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.

Wednesday 6 September 2017

17-299MR Former TZ Limited director extradited, charged with dishonest conduct offences

After being extradited to Australia from Thailand, John Falconer, the former director and chief financial officer of TZ Limited, has been charged with dishonest conduct and appeared before the Sydney Central Local Court.

The charges, which follow an ASIC investigation, include 16 counts of using his position as a director dishonestly with the intention of gaining an advantage for himself or others and 2 counts of giving false or misleading information to the ASX.

ASIC alleges that between 8 December 2006 and 24 September 2008, whilst a director of TZ Limited, Mr Falconer used his position dishonestly on 16 separate occasions to gain an advantage for himself or others, by causing approximately $6.25 million of TZ Limited's funds to be transferred to entities associated with Mr Falconer, entities associated with Andrew Sigalla (another former director of TZ Limited) and other persons or entities associated with Messrs Falconer and Sigalla.

ASIC also alleges that on two occasions, 30 April 2008 and 28 February 2009, whilst a director of TZ Limited, Mr Falconer lodged financial reports with the ASX which failed to disclose the true nature of certain payments within the reports.

Each offence carries a maximum penalty of five years imprisonment.

Mr Falconer departed Australia in March 2012 during ASIC's investigation and did not return. Following a request from the Australian Government (on behalf of ASIC), the Thai Criminal Court issued a warrant for the arrest of Mr Falconer and on 2 June 2017, Mr Falconer consented to be extradited to Australia.

Mr Falconer arrived in Australia on 5 September 2017, escorted by officers of the Australian Federal Police (AFP).

Appearing before Sydney Central Local Court the same day, Mr Falconer requested an adjournment for one week in order to prepare a release application. The Court will hear the application on Friday, 15 September 2017 and Mr Falconer will remain in custody until the application is heard.

The Commonwealth Director of Public Prosecutions (CDPP) is prosecuting the matter.

ASIC worked with the CDPP, the Commonwealth Attorney-General's Department and the AFP in securing Mr Falconer's extradition to Australia. ASIC would also like to thank the Thai authorities for their assistance in this matter.

Background

On 22 November 2016, Andrew Sigalla, the former director of TZ Limited, was found guilty by a NSW Supreme Court jury of 24 counts of dishonest conduct [16-402MR] and on 10 February 2017 was sentenced to 10 years imprisonment, with a non-parole period of 6 years [17-027MR].

On 1 March 2017, Mr Sigalla lodged a Notice of Intention to Appeal against conviction and sentence.

Editor's note 1:

The matter was before the Sydney Central Local Court on 15 September 2017 for mention. Mr Falconer did not make an application for release and the Court ordered that his bail remains refused. The matter will next be before the Court on 15 November 2017.

Editor's note 2:

The matter was before the Sydney Central Local Court on 15 November 2017 for mention. The matter was adjourned until 24 January 2018 for further mention. Mr Falconer's bail remains refused.

Editor's note 3:

The matter was before the Sydney Central Local Court on 24 January 2018 for mention. The matter was adjourned until 7 March 2018. Mr Falconer's bail remains refused.

Editor's note 4:

The matter was before the Sydney Central Local Court on 7 March 2018 for mention. The matter was adjourned until 4 April 2018 for further mention. Mr Falconer's bail remains refused.

Editor's note 5:

The matter was before the Sydney Central Local Court on 4 April 2018 for mention. The matter was adjourned until 2 May 2018 for further mention. Mr Falconer's bail remains refused.

Editor's note 6:

The matter was before the Sydney Central Local Court on 2 May 2018 for mention. Following an application by Mr Falconer to waive his right to a committal hearing, he was committed to stand trial in relation to the charges outlined above. The matter has been transferred to the Supreme Court of New South Wales and will next be before the Court on 1 June 2018. Mr Falconer's bail remains refused.

Editor's note 7:

The matter was before the Supreme Court of New South Wales on 1 June 2018 for mention. The matter will next be before the Court on a date to be fixed. Mr Falconer's bail remains refused.

Editor's note 8:

The matter was before the Supreme Court of New South Wales on 7 June 2018 for mention. The matter will next be before the Court on 3 August 2018 for further mention. Mr Falconer's bail remains refused.

Editor's note 9:

The matter was before the Supreme Court of New South Wales on 3 August 2018 for mention. The matter will next be before the Court on 9 November 2018. Mr Falconer's bail remains refused.

Editor's note 10:

The matter was before the Supreme Court of New South Wales on 9 November 2018 for a sentencing hearing. The matter will next be before the Court on 16 November 2018 for sentencing. Mr Falconer remains in custody.

 

Last updated: 30/03/2021 09:27