ASIC has disqualified Daniel McSweeny from managing companies following his involvement in 14 failed companies, which he used to operate a financial services business.
The companies included Wealth Achievers Services, The Village Accountant Australia and Wealth Achievers, which were placed into liquidation between August 2014 and September 2015.
The total amount of debts owed by the companies amounted to about $9.8 million.
ASIC found that Mr McSweeny had fraudulently misappropriated money, used the company structure for dishonest means and showed a complete disregard of his director duties.
Mr McSweeny was also found to have failed to observe requirements to lodge documents with the ATO, had failed to ensure the companies complied with their obligations to keep written records and failed to prevent the companies from trading while possible insolvent.
ASIC relied on reports lodged by the liquidators of the failed companies to reach their decision to ban Mr McSweeny, whose disqualification took effect from 2 May this year.
Thanks god “investment” properties are not “investments”.
http://nathanbirch.com.au/
Another matter handed to ASIC get out there and find your own
A bit late? ASIC arrives at the scene of the crime wait for it, four years late (well used the liquidators report).
Seriously, only banned for 5 years. That’s 2 million a year he earnt and showed a total disregard for his Directors responsibilities.
So in 5 years time he can do it all again.
Where are ASIC coming from?
ASIC , only taken you nearly 4 years to find out !!! Keep up the same standards ……
Peter Daly next