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 19 December 2017

17-445MR Melbourne accountant charged

Following an ASIC investigation, Melbourne accountant Mr Jason Dermot Cullen, 47, of Yarraville, appeared before the Magistrates' Court of Victoria charged with two counts of authorising the making of a false or misleading document required under the Corporations Act. 

The charges were brought by ASIC following an investigation into NewSat Limited (NewSat), a company formerly listed on the Australian Securities Exchange 

ASIC alleges that on 18 January 2012 and 9 August 2012, Mr Cullen, engaged to provide services to NewSat Limited, authorised the making of two invoices for accounting services that were false or misleading contrary to section 1308(2) of the Corporations Act. ASIC alleges that those invoices caused NewSat to make payments amounting to $275,000 to a private company associated with the company’s former chief executive officer, Mr Adrian Ballintine. 

Each of the charges carries a maximum penalty of five years' imprisonment. 

The charges have been listed for a mention hearing to be held on 6 March 2018. 

The matter is being prosecuted by the Commonwealth Director of Public Prosecutions. 

Background 

NewSat was a satellite communications provider that was listed on the Australian Securities Exchange until 31 August 2015.  

On 17 April 2015, receiver managers were appointed to NewSat. On 7 August 2015 the company entered into liquidation.

Editor's note 1:

A committal mention was held on 6 March 2018 and adjourned for further mention to 10 April 2018.

Editor's note 2:

On 10 April 2018, the charges were set down for a committal hearing to commence on 20 September 2018.

Last updated: 19/12/2017 12:00