Former Director and CEO of Bananacoast Community Credit Union Limited (BCU), Lyndon Allen Kingston, has been found guilty of dishonest conduct.

On 12 November 2024, following a four-week trial in the Brisbane District Court, a jury found Mr Kingston guilty of two counts of dishonestly using his position with the intention of gaining an advantage and two counts of providing misleading information to the auditor of BCU.

The jury were unable to reach a unanimous verdict concerning two further counts and were subsequently discharged from further deliberations in respect of these.

Mr Kingston was released on bail ahead of sentencing on 10 December 2024.

The matter was prosecuted by the Commonwealth Director of Public Prosecutions following an ASIC investigation.

ASIC acknowledges the assistance of APRA in this matter.

Background

BCU, at the time of the offending was a credit union based in Coffs Harbour. In 2019, it merged with Police and Nurses Limited, a community owned bank based in WA.  BCU is now a division of that bank.