media release (20-236MR)

Former director charged with making a false statement

Published

Following an ASIC investigation, Mr Marcus McDermott of Morton New South Wales has been charged with making a false or misleading statement in a document lodged with ASIC. 

Mr McDermott was a former director of AEM Fisheries Pty Ltd (Deregistered) ACN 600 735 402 (AEM Fisheries) which operated a commercial fishing vessel.

ASIC alleges Mr McDermott lodged a false or misleading document (Form 6010) with ASIC to voluntarily deregister AEM Fisheries on 19 November 2018.

Mr McDermott declared in the document that AEM Fisheries did not have any outstanding liabilities. It is alleged that, as at 19 November 2018, AEM Fisheries had a $21,000 liability owing to a creditor.

Background

Breaching section 1308(2) of the Corporations Act carries a maximum penalty of 5 years imprisonment.

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

The matter has been adjourned until 15 October 2020 for mention in the Milton Local Court.

Editor's note:

On 15 October 2020, the matter was heard at the Milton Local Court and was adjourned for further mention until 29 October 2020.

Editor’s Note 2:

On 29 October 2020, the matter was heard at Milton Local Court.  Mr McDermott was convicted for breaching s1308(2) of the Corporations Act.  Magistrate Fleming imposed a reparation order in the amount of $21,000 payable to the Commonwealth.  Mr McDermott has appealed the decision. The appeal will be heard on 23 November 2020 at Nowra District Court.

Editor’s note 3:

On 23 November 2020, the matter was heard at Nowra District Court and was adjourned until 27 November 2020.

Editor’s note 4:

On 27 November 2020, the matter was heard at Nowra District Court before District Court Judge McClintock. The appeal was refused and the sentencing Magistrate’s original orders were sustained. In addition to his conviction, Mr McDermott is disqualified from managing corporations until 28 October 2025.

 

 

 

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