ASIC has disqualified Daniel McSweeny of Zetland, NSW from managing companies for the maximum period of five years following his involvement in 14 failed companies.
Mr McSweeny was a former director of The Village Accountant Australia Pty Ltd in Mosman.
He was also a former director of:
- Taavla Capital Pty Limited A.C.N. 139 644 429;
- Prettoria Capital Pty Limited A.C.N. 143 300 609;
- Iugis Capital Pty Limited A.C.N. 136 702 639;
- Wealth Achievers Services Australia A.C.N. 130 189 909;
- Constantia Capital Pty Limited A.C.N. 143 526 434;
- FF&I Holdings Pty Limited A.C.N. 124 345 348;
- Security Chips Pty Ltd A.C.N. 600 199 255;
- Kimbriki Capital Pty Ltd A.C.N. 133 864 883;
- Kimbriki Capital Trading Pty Ltd A.C.N. 133 864 892;
- Wealth Achievers Services Group Pty Ltd A.C.N. 162 529 375;
- Mondo Oro Pty Ltd A.C.N. 120 262 348;
- Wealth Achievers Services Pty Ltd A.C.N. 127 843 056; and
- Logiplan Financial Services Pty Ltd A.C.N 002 663 210;
Mr McSweeney used the companies to operate a financial services business. The companies were placed into liquidation between 21 August 2014 and 8 September 2015.
The total amount of debts owed by the 14 companies to creditors amounted to approximately $9.8 million.
Among its findings, ASIC said Mr McSweeney had fraudulently misappropriated company money; used the company structure for his own dishonest means; showed a complete disregard of his director duties; failed to observe requirements to lodge documents with the ATO; failed to ensure the companies complied with their obligation to keep written financial records; and failed to prevent the companies from trading while possibly insolvent.
Mr McSweeny’s disqualification took effect from 2 May 2019 and extends to 1 May 2024.
Following a separate ASIC investigation, Mr McSweeny has been charged with 20 dishonesty offences and one offence of falsifying books while a company director, with the matter scheduled for mention on 5 July and is being prosecuted by the Commonwealth Director of Public Prosecutions.