In determining that Daniel McSweeny is unfit to stand trial, Judge Leonie Flannery relied upon the uncontested medical evidence tendered by each party, ASIC said in a statement.
Mr McSweeny was originally charged on 27 November 2018 with 20 charges of dishonest use of his position as a director of two companies with the intention of directly gaining an advantage for himself or others, and one charge of falsification of books.
ASIC originally conducted an investigation into Mr McSweeny following reports from clients affected by his activities.
He was disqualified from managing companies for the maximum period of five years, effective 2 May 2019.
The corporate regulator then referred a criminal brief to the Commonwealth Director of Public Prosecutions resulting in charges being brought against Mr McSweeny.
The matter was referred to the District Court in 2019 after a question as to Mr McSweeny’s fitness to stand trial was raised by his legal representatives.
In determining the appropriate disposition, Judge Flannery found that a prima facie case had been established in relation to each of the offences for which Mr McSweeny had been charged.
The judge made an order under s20BC(5) of the Crimes Act 1914 (Cth) to release Mr McSweeny, with conditions that he remain in the care of his treating doctors and follow their directions regarding ongoing treatment. The order is to continue for a period of three years from 11 February 2020.