ASIC media releases are point-in-time statements. Please note the date of issue and use the internal search function on the site to check for other media releases on the same or related matters.

Tuesday 11 July 2017

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.

Background

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.

Media centre

Receive media releases

Subscribe to the email distribution by sending your name, title, organisation, email address and contact phone numbers to media.subscription@asic.gov.au.

Follow us on Twitter @asicmedia

Last updated: 02/08/2017 04:07