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A Victorian accountant has appeared before the courts, charged with two counts of authorising the making of a false or misleading document required under the Corporations Act.
The charges, brought by ASIC to Melbourne accountant Jason Dermot Cullen, follow an investigation into formerly ASX-listed communications provider NewSat Limited. The company entered liquidation on August 7, 2015.
In a statement released yesterday, ASIC alleges that on 18 January 2012 and 9 August 2012, Cullen, engaged to provide services to NewSat Limited, and authorised the making of two invoices for accounting services that were false or misleading contrary to section 1308(2) of the Corporations Act.
ASIC also alleges that those invoices caused NewSat to make payments amounting to $275,000 to a private company associated with the company’s former chief executive officer, Adrian Ballintine.
Each of the charges carries a maximum penalty of five years' imprisonment, and the charges have been listed for a mention hearing in early March next year. It is being prosecuted by the Commonwealth Director of Public Prosecutions.
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