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Tuesday 25 January 2022

22-008MR Victorian former company director pleads guilty to making a false statement to ASIC

Jim (Dimitrios) Bakos of Thornbury, Victoria, has pleaded guilty and been convicted of making a false or misleading statement to ASIC.

Mr Bakos appeared in the Melbourne Magistrates Court on 24 January 2022 and pleaded guilty  to making a false or misleading statement to ASIC when he lodged a form to deregister a company known as VFD Pty Ltd ACN 105 333 579 (Deregistered) (“VFD”) and declaring that it had no liabilities.  At the time of lodging the form, VFD in fact owed $11,106.19 to one of its former employees

Mr Bakos was sentenced to a $3000 fine.

Prior to sentencing, Mr Bakos made restitution to the former employee, which was taken into consideration when her honour handed down the sentence.

As a result of the conviction, Mr Bakos is automatically disqualified from managing corporations for five years, until 24 January 2027.

Mr Bakos was charged on 21 May 2021, following an ASIC investigation (21-209MR).

The matter was prosecuted by the Commonwealth Director of Public Prosecutions.

Background

On 4 August 2017, the Federal Circuit Court of Australia declared that VFD contravened the Storage Services and Wholesale Award 2010 and the Fair Work Act 2009 and ordered it to pay a former employee $11,106.19.

On 16 August 2017, an application for voluntary deregistration of VFD was lodged with ASIC. VFD was a food products wholesaler.

Making a false or misleading statement to ASIC is a breach of s1308 of the Corporations Act and carries a maximum penalty of five years imprisonment.

Last updated: 25/01/2022 12:00