As an ex holder of shares in the biotech agenix, the news today...

As an ex holder of shares in the biotech agenix, the news today of a jailed company director gives substance to the justice system


Former biotech chief jailed February 18, 2010 01:57pm

THE former managing director of a Brisbane biotechnology enterprise working on detecting blood clots has been jailed for nine years after pleading guilty to a $5 million fraud charge.

Neil Ian Leggett, a gently spoken accountant and former MD of Agenix, is eligible for parole after three years of a nine-year sentence handed down today.
Agenix, now based in Victoria, was once hailed as an example of Queensland's "Smart State" drive.

It has chalked up more than $68 million in losses while working on various projects.

The court heard between January 2006 and February 2008 that then MD Leggett funnelled almost $5.6 million of stockmarket-listed Agenix's funds to a family company.

He faked documents to make the transfers appear legitimate, prosecutors said.