iscoverThe former accountant of an ASX-listed company has now been charged with stealing over $700,000 from the company.
Former ASX-listed company accountant faces multiple stealing charges
07 December 2020
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4 minute read
Facing the Perth Magistrates Court last Friday, the former accountant of Legacy Iron Ore Limited, Karen Kwan, was charged with 13 counts of stealing.
The ASX-listed company’s former managing director, Sharon Kia Le Heng, has also been charged with 13 counts of stealing.
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The charges come after an ASIC investigation found that between June 2012 and November 2013, Ms Heng and Ms Kwan made 13 electronic fund transfers from Legacy’s bank account to the bank account of Regency Infrastructure Pty Ltd, a company controlled by Ms Heng, in circumstances where there was no legitimate basis for these payments.
ASIC alleges that the pair stole approximately $725,000 from Legacy.
The matter, prosecuted by the Commonwealth Director of Public Prosecutions after a referral from ASIC, has now been adjourned to 26 March 2021.
Ms Heng and Ms Kwan have both been granted bail, with conditions including that they do not travel overseas and surrender all passports to the court.
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