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Company director faces fraud charge

Company director faces fraud charge

Magnifying glass with fraud word

The sole director of a liquidated vehicle rental company has been charged with fraud after the corporate regulator accused the man of stealing business property worth more than $120,000.

According to ASIC, Queensland man John Edward Featherstone fraudulently removed three vehicles belonging to Central Car and Truck Rental between 1 September and 6 October in 2016.

The alleged thefts took place after the company was put into administration in July that year, with liquidators subsequently appointed on 17 August.

Mr Featherstone faced Rockhampton Magistrates Court earlier this month, but the matter was adjourned until 13 November.

Removing property owned by a company once it is under the control of administrators or liquidators is an offence under the Corporations Act, because it has the effect of denying any creditors access to recoup any debts owed.

The announcement of the charges against Mr Featherstone

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>According to ASIC, Queensland man John Edward Featherstone fraudulently removed three vehicles belonging to Central Car and Truck Rental between 1 September and 6 October in 2016.

The alleged thefts took place after the company was put into administration in July that year, with liquidators subsequently appointed on 17 August.

Mr Featherstone faced Rockhampton Magistrates Court earlier this month, but the matter was adjourned until 13 November.

Removing property owned by a company once it is under the control of administrators or liquidators is an offence under the Corporations Act, because it has the effect of denying any creditors access to recoup any debts owed.

The announcement of the charges against Mr Featherstone came as a Victorian man was given the maximum five-year ban on managing companies over his role in the collapse of five separate businesses that collectively owed creditors around $3.5 million.

Company director faces fraud charge
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