Former Queensland director Jonathan William Parker, of New Beith, has been convicted and jailed after pleading guilty to fraud.
Mr Parker appeared before the Beenleigh District Court on 18 December 2019 and 22 January 2020 and pleaded to guilty to two counts of fraud under the Criminal Code (Queensland).
Mr Parker was sentenced to six years’ imprisonment on the first count and three years’ imprisonment on the second count, to be served concurrently. The Court imposed a non-parole period of 16 months’ imprisonment.
ASIC Commissioner John Price said, ‘This is a significant outcome and should serve as a warning to corporate Australia that the community will not tolerate directors acting dishonestly to the detriment of their investors or consumers. There is a high risk your crime will be detected and investigated, and that you will be convicted and go to jail.’
An ASIC investigation found that between 30 September 2011 and 18 April 2012 Mr Parker dishonestly created false invoices to conceal taking $809,208.30 belonging to Freenet Pty Ltd ACN 149 861 254 (Freenet). The investigation also found that on or around 23 March 2012, Mr Parker dishonestly used $140,000 belonging to an investor of Freenet.
At the time of committing the fraud, Mr Parker was the director of Freenet.
The Commonwealth Director of Public Prosecutions is prosecuting the matter.
ASIC commenced an investigation after receiving a funded report from Mr Nick Combis of Vincents Chartered Accountants, who was appointed the liquidator of Freenet on 19 December 2014. ASIC provided funding to Mr Combis to conduct an investigation from the Assetless Administration Fund.