Former Sydney liquidator sentenced to three years imprisonment for dishonesty and fraud offences miragenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miragenews.com Daily Mail and Mail on Sunday newspapers.
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NSW director disqualified from managing corporations for four years
Vito Peter Pennimpede of Balgownie, NSW, has been disqualified from managing corporations for four years after his involvement in four failed companies. Mr Pennimpede was a director of four companies between 2016 and 2019, namely:
Fonz (Aust) Holdings Pty Ltd (ACN 151 846 669) (Fonz);
Manbead Pty Ltd (ACN 068 376 590) (Manbead);
Admark Property Group Pty Ltd (ACN 153 600 170) (Admark); and
UBC Commercial Vehicles (Australia) Pty Ltd (ACN 604 149 680) (UBC).
The four companies were involved in land acquisitions, residential property development and wholesale construction trade.
In making its decision, ASIC found that Mr Pennimpede does not adequately understand his directors’ duties. ASIC also found in relation to Fonz and Manbead (the companies) that Mr Pennimpede breached his duties by failing to:
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Sydney liquidator pleads guilty to dishonesty and fraud charges
A former registered liquidator from Lewisham, New South Wales, Ms Amanda Young, has pleaded guilty to one count of fraud relating to the liquidation of St Gregory’s Armenian School Inc (St Gregory’s) and one count of dishonestly using her position as liquidator of Mamak Pty Ltd (Mamak).
ASIC alleged that between 10 December 2017 and 5 December 2018, while a liquidator of Mamak, Admark Property Group Pty Ltd and Roller Poster Company Pty Ltd, Ms Young caused the transfer of a total of $73,140 from the liquidation bank accounts of those companies to bank accounts that she controlled and then used the funds for her own purposes (20-160MR). The transfer in relation to the liquidation of Mamak was for $28,500.