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A former credit union chief executive has now been hit with criminal charges after the corporate regulator alleged that he produced and used falsified documents.
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Former credit union boss faces criminal charges
04 December 2019
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9 minute read
Following an ASIC investigation, former director and chief executive of Bananacoast Community Credit Union Limited (BCU), Lyndon Allen Kingston, of Windsor, Queensland, will now face up to 10 years’ imprisonment.
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Appearing in the Brisbane Magistrates Court last week, Mr Kingston has been charged with three counts of dishonest use of his position as a director of BCU; two counts of providing false information to BCU; and one count each of making and using a false document with the intention of dishonestly inducing a public official to accept as genuine.
The alleged offending occurred between December 2015 and August 2017.
Mr Kingston became the chief financial officer of BCU in 2008 before being appointed as chief executive.
Accountants Daily understands Mr Kingston was most recently engaged to consult to Brisbane boutique accounting firm HMW Group on an operational project.
HMW Group director of business services James Whitelaw said Mr Kingston’s services have since been suspended, that he was not involved in client advice, strategies or services, and was not an employee or director of HMW Group.
“While the charges are before the courts, Mr Kingston’s services have been suspended until the matter is resolved,” Mr Whitelaw said.
“The ASIC charges are in no way related to the HMW Group. Transparency, capability and reliability are key tenets of our firm, and we do not tolerate criminal activity.”
Mr Kingston has been released on bail and the matter has been adjourned to 14 February 2020 before the Brisbane Magistrates Court for further mention.
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