According to a statement by the Australian Securities & Investments Commission (ASIC), Alex Paul Gavriel of Templestowe in Melbourne was sentenced to 20 months in prison, having pleaded guilty to withdrawing over $137,000 as director of Almatt Pty Ltd for his own personal use.
ASIC said Mr Gavriel also failed to disclose the transfer of funds when the swimming pool business operated by Almatt was placed into liquidation, and failed to provide assistance to the liquidator.
He was initially charged on 18 September 2014 with two breaches of the Corporations Act, which included a total of 20 specific counts of dishonesty.
“ASIC is very serious about directors upholding the standards required of them by the law,” said ASIC commissioner Greg Tanzer.
“Mr Gavriel's sentencing sends a strong message: ASIC will ensure any director considering this kind of misconduct feels the full weight of the law.”
As a result of his conviction, Mr Gavriel will be automatically disqualified from managing a corporation for a period of five years.
ASIC noted at the time that the court ruled Mr Gavriel “be immediately released on a recognisance release order for a period of three years on a recognisance of $30,000”. It said that had Mr Gavriel not pleaded guilty, the court said it would have handed down a 25-month sentence, “with five months to be served immediately”.