A former company director and undischarged bankrupt has been charged with numerous criminal offences in connection with multiple companies engaged in Gold Coast property development projects.
Ian Omar Chester was a director of Vested Capital Pty Ltd and several other associated companies which were used as investment and development vehicles (Vested group).
On 4 December 2023, Chester appeared in the Southport Magistrates Court charged with 15 counts of fraud, three counts of falsifying company books and records and two counts of providing false or misleading information to the members of a corporation in connection with his dealings with the Vested group companies.
This matter is being prosecuted by the Commonwealth Director of Public Prosecutions.
Background
The maximum penalties for fraud offences range between 14 years to 20 years imprisonment depending on the circumstances of the offence.
The maximum penalty for the falsification of company books is two years imprisonment or 100 penalty units or both.
The maximum penalty for providing false information to members is five years imprisonment or a fine of $66,600 or both.
On 9 July 2021, 14 companies associated with the Vested group were wound up. A further company was placed into voluntary administration and is now in liquidation.
On 13 July 2021 ASIC took action against Mr Chester and his wife to preserve certain assets. On 26 July 2021, asset preservation orders were made. On 15 March 2022, the preservation proceedings were discontinued.
Mr Chester presented a debtor’s petition and was declared bankrupt on 25 July 2022.
Editor's note 1:
The next mention is listed for 5 February 2024.
Editor's note 2:
On 5 February 2024, the matter was mentioned in the Southport Magistrates Court and adjourned for a further mention on 18 March 2024.
Editor's note 3:
On 18 March 2024, the matter was mentioned in the Southport Magistrates Court and adjourned for a further mention on 15 April 2024.
Editor's note 4:
On 15 April 2024, the matter was mentioned in the Southport Magistrates Court and adjourned for a further mention on 3 June 2024.
Editor's note 5:
On 3 June 2024, the matter was mentioned in the Southport Magistrates Court and adjourned for further mention on 1 July 2024.
Editor's note 6:
On 1 July 2024, the matter was mentioned in the Southport Magistrates Court and adjourned for further mention on 5 August 2024.
Editor's note 7:
On 5 August 2024, the matter was mentioned in the Southport Magistrates Court and adjourned for further mention on 2 September 2024.
Editor's note 8:
On the 21 August 2024 committal documents were filed by the defence, the mention set for 4 September 2024 was cancelled by the court. The next date for the mention of the matter is yet to be set by the court.