Sydney-based building and construction specialist, Michael Vincent Iannello, has been convicted of managing Vibo Constructions Pty Ltd (Vibo Constructions) while disqualified and sentenced to 100 hours of community service.

An ASIC investigation found Mr Iannello continued to act as general manager of Vibo Constructions despite declaring bankruptcy on 25 May 2010. A bankrupt is automatically disqualified from managing a company unless they obtain court permission or until their bankruptcy ends.

Mr Iannello pled guilty and was convicted in Sydney's Downing Centre Local Court, on 7 October 2014, to one charge of managing a corporation while disqualified.

The Commonwealth Director of Public Prosecutions prosecuted the matter.

Background

ASIC’s investigation found Mr Iannello made decisions that affected the whole or a substantial part of the business of Vibo Constructions while being disqualified from doing so between 27 May and 3 December 2010. Vibo Constructions was placed into liquidation on 12 April 2011.