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17-234MR Director of Melbourne plumbing business pleads guilty to fraud
Following an ASIC investigation, Mr Paul Joseph Hanson, a former director of Wida Plumbing Supplies Pty Ltd (Wida), has pleaded guilty to one count of fraud.
Mr Hanson, of Caroline Springs in Victoria, operated a plumbing business.
ASIC's investigation found that approximately eight months after Wida was placed in liquidation, Mr Hanson transferred $124,763.84 from a Wida overdraft bank facility held with Bendigo Bank to the personal bank account of a family member. Mr Hanson then arranged for the family member to withdraw the funds, which he used for his own personal use.
Mr Hanson appeared before the Melbourne Magistrates' Court on 7 July 2017 and pleaded guilty. He was released on bail to appear before the County Court of Victoria for sentencing on 8 November 2017.
The Commonwealth Director of Public Prosecutions is prosecuting the matter.
The maximum penalty for the offence is 10 years imprisonment.
Mr Hanson was initially charged on 23 November 2016 under section 82 of the Crimes Act (Vic) relating to obtaining financial advantage by deception.