pallister remanded on bail - court 20 july 2006

Pallister remanded on bail to appear on 20 July 2006

PERTH MAN PLEADS NOT GUILTY ON CHARGES OF INTENT TO DEFRAUD
Mr Mark James Pallister, previously of Rossmoyne, Western Australia,
and recently of Point Piper, Sydney, has pleaded not guilty in the
District Court of Western Australia to three fraud charges brought
by the Australian Securities and Investments Commission (ASIC).
Mr Pallister pleaded not guilty to three charges of intent to
defraud by deceit or fraudulent means following ASIC's investigation
into a complaint concerning Rototek Pty Ltd, a company associated
with Mr Pallister, which had entered into a joint venture
arrangement and partnership with Citybright Pty Ltd, trading
as 'Concept Boats'.
ASIC alleges that Mr Pallister falsified invoices and other
documents, and made false statements to his business partners. As a
result, he obtained a benefit and funds totalling approximately
$929,000 between 1 March and 15 July 2003.
It is alleged that Mr Pallister used $465,000 of the $929,000 to
purchase a residential property in Shelley, Western Australia.
Mr Pallister was remanded on bail to appear on 20 July 2006.
The Commonwealth Director of Public Prosecutions is prosecuting the
matter.