Former director Adam John Copping of Ascot, Queensland has been convicted of dishonestly using his position to fraudulently remove company property.

Mr Copping was a former director of Trac Developments Pty Ltd (the Company), which was placed in liquidation on 7 March 2016.  An ASIC investigation found that soon after the appointment of liquidators, Mr Copping fraudulent removed an Isuzu truck that belonged to the Company without providing any consideration.

ASIC commenced an investigation after receiving a report from the liquidators, Ann Fordyce and Nigel Robert Markeyof Pilot Partners.  ASIC assisted the liquidators to prepare their report by providing funding from the Assetless Administration Fund.

Mr Copping appeared in the Brisbane Magistrates Court on 6 July 2018 and pleaded guilty to one count of engaging in conduct that resulted in the fraudulent concealment or removal of the property belonging to the Company.  Mr Copping was convicted and fined $2,500.

The matter was prosecuted by the Commonwealth Director of Public Prosecutions.

Background

Mr. Copping was charged and found guilty of breaching s.590(1)(c)(i) of the Corporations Act 2001.

As a consequence of his conviction, Mr Copping is disqualified from managing companies until 5 July 2023.

The Phoenix Taskforce comprises 20 Federal, State and Territory government agencies that provides a whole-of-government approach to combat illegal phoenix activity.

Strong cross-government agency collaboration underpins on-going strategic and operational matters aimed at disrupting those who facilitate illegal phoenix activity.

Suspected phoenix activity can be reported to the Phoenix Taskforce on 1800 060 062 or online at the ATO website.