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18/08/22
17:17
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Originally posted by 82Punter
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He's being sentenced in the WA Supreme Court on 31 January 2023 for stealing $2.2m from Citation Resources, forging and uttering a bank statement of Citation to show it had $675k when it really only had $117.55, providing false information to ASX/ASIC that CCC had received $2.6m from investors when it had only received $57k, giving false or misleading information to the ASX by failing to disclose that CCC's only income producing asset had gone into administration and another statement that assets had been sold when they hadn't.
Then he'll be sentenced in the Magistrates Court on 7 February 2023 for failing to hold money on trust when he transferred $1.03m from the CCC trust into various other bank accounts.
I wonder how many former investors will be inclined to sit in the public gallery at the end of January???
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It's probably wishful thinking but I hope he does time and lots of it, not to mention stripped of every asset they can find. Unfortunately these thieving clowns usually get some non custodial slap on the wrist accompanied with a petty fine.