Former company director, Christopher Edward Eric Skelly, of Lark Hill, Queensland, has been sentenced to imprisonment on one charge of fraud after an investigation by ASIC.
Mr Skelly was sentenced to three years and six months imprisonment, to be eligible for parole after 21 months.
Mr Skelly, a former director of C & G Group Industries Pty Ltd ACN 168 873 578 (C&G) was earlier found guilty by a jury of gaining a benefit, namely $529,380.72 for C&G, with intent to defraud by deceit.
Between 11 December 2014 and 12 January 2015, Mr Skelly deceived a factoring agency by emailing them an invoice and other documents that created the false impression that monies were owed to C&G by debtors, when in fact they were not. Relying on those documents, the factoring agency paid C&G a total of $529,380.72.
Mr Skelly was sentenced on 17 April 2019.
The Commonwealth Director of Public Prosecutions prosecuted the matter.
Following his release from jail, Mr Skelly will automatically be disqualified from managing companies for a further five years.
C&G was involved in the provision of crushing & screening services. The company was placed into administration on 28 April 2015 and liquidators were subsequently appointed on 29 May 2015. C&G had total liabilities of $4,089,386 owing to 54 creditors.
ASIC commenced an investigation after receiving a report from the liquidators of C&G, David Ross and Cameron Shaw of Hall Chadwick.