Mr Craig Robert Dale, 52, of Karrinyup, Western Australia has been charged with one count of dishonestly using his position as a director of Stellar Corporate Solutions Pty Ltd (ACN 154 563 443, deregistered) (Stellar) and seven counts of conducting transactions so as to avoid reporting requirements under the Anti-Money Laundering and Counter-Terrorism Financing Act (AML&CTF Act).

An ASIC investigation alleges that between 30 December 2013 and 30 April 2014 Mr Dale, a former sole director of Stellar, redirected a total of $998,201.98 belonging to Stellar to his personal bank account. 

ASIC also alleges that between 13 August 2013 and 3 October 2014 Mr Dale transferred money in amounts that would not meet the monetary thresholds which need to be reported to AUSTRAC as required under AML&CTF Act.

Mr Dale is due to appear in the Perth Magistrates Court on 22 May 2020.

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

Background

Conducting transactions to avoid reporting requirements under the AML&CTF Act carries a maximum penalty of five years imprisonment.

At the time of the alleged conduct, a breach of directors duties under the Corporations Act carried a maximum of five years imprisonment.

In making its decision to commence an investigation, ASIC relied on a supplementary report that was lodged by the liquidator of Stellar, namely Cliff Rocke (the Liquidator), at that time of KordaMentha.  ASIC assisted the Liquidator to prepare the supplementary report by providing funding from the Assetless Administration Fund. 

Editor's note:

The matter was heard at Perth Magistrates' Court on 22 May 2020 for committal mention and was adjourned to 17 July 2020 at 9.30am again for committal mention.

Editor's note 2:

The matter has been further adjourned for committal mention on 21 August 2020.

Editor's note 3:

The matter has been further adjourned for committal mention on 2 October 2020.

Editor's note 4:

The matter has been further adjourned for mention on 30 October 2020.

Editor's note 5:

On 30 October 2020, the matter was adjourned to a further committal mention on 4 December 2020.

Editor's note 6:

On 4 December 2020, the matter was adjourned to a further committal mention on 15 January 2021.

Editor’s note 7:

On 15 January 2021, the matter was heard and committed to the WA District Court for a trial listing hearing on 9 April 2021.

Editor's note 8:

The matter has been further adjourned to 7 May 2021 for a trial listing hearing.

Editor's note 9:

The trial listing hearing has been further adjourned to 18 June 2021.

Editor's note 10:

The trial listing hearing has been further adjourned to 30 July 2021.

Editor's note 11:

On 30 July 2021, the matter was adjourned to 6 August 2021.

Editor's note 12:

On 6 August, the matter was set down for a 12 day trial commencing on 9 February 2022.

Editor's note 13:

The matter was heard at the Perth District Court on 27 January 2022 for status conference. The matter was discontinued and the trial dates were vacated.