That Condor Blanco article should serve as a good warning to dodgy directors who use companies as their personal ATM. Is the time on the gravy train really worth it if you have to share a cell with Bubba fir a few years.
One key takeaway from that article is that the fraud charges had nothing to do with ASIC, it was the new board who spent quite some time investigating the previous board and doing the groundwork for those charges.
Ann: Commencement of Proceedings - Section 249F Meeting, page-17
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