Amanda Young, a former Jirsch Sutherland partner, has pleaded guilty to one count of fraud relating to the liquidation of St Gregory’s Armenian School Incorporated, and one count of dishonestly using her position as liquidator of Mamak Pty Ltd.
Ms Young, of Lewisham, New South Wales, was a former registered liquidator who saw her registration cancelled by ASIC in June last year, after a disciplinary committee concluded that she had improperly used her position, falsified books and misappropriated funds totalling close to $240,000.
ASIC alleges that as a liquidator of Mamak, Admark Property Group Pty Ltd, and Roller Poster Company Pty Ltd between 10 December 2017 and 5 December 2018, Ms Young had caused the transfer of a total of $73,140 from the liquidation bank accounts of those companies to bank accounts that she controlled and then used the funds for her own purposes.
The corporate regulator also alleges that between 23 October 2018 and 2 November 2018, Ms Young, while a manager for the liquidation of St Gregory’s Armenian School Incorporated, caused three bank cheques totalling $165,362 to be drawn in her favour from the St Gregory’s liquidation account and then deposited them to bank accounts that she controlled.
Ms Young will now be sentenced in the Sydney District Court on 26 February, with the other two charges relating to the liquidations of Admark Property Group Pty Ltd and Roller Poster Pty Ltd to be taken into account during the sentencing.
The maximum penalty for the fraud charge is 10 years’ imprisonment, while the maximum penalty for the dishonesty charge is five years’ imprisonment.
Jotham Lian is the editor of Accountants Daily, the leading source of breaking news, analysis and insight for Australian accounting professionals.
Before joining the team in 2017, Jotham wrote for a range of national mastheads including the Sydney Morning Herald, and Channel NewsAsia.