An ASIC investigation has resulted in fraud charges being laid against former IFS director Graeme Dillon.
Graeme Dillon, former director of collapsed forklift company Independent Forklift Services (IFS), has appeared in the Brisbane Magistrates Court on fraud charges, following an investigation by financial services regulator, Australian Securities and Investments Commission (ASIC).
Dillon, who until two months ago worked in the industry, has been charged with two counts of fraud that concern a number of transactions in relation to his former Brisbane company, Independent Forklift Services (Qld) Pty Ltd and its North Queensland subsidiary, both now in liquidation (FLA # 330)
ASIC alleges that between November 2006 and May 2007, Dillon dishonestly induced Capital Finance Australia Pty Ltd to provide finance to the companies by lodging false invoices for the purchase of forklifts.
Dillon was not required to enter a plea and has been released on bail on the condition he surrender his passport and not approach any point of departure from Australia.
The matter was adjourned for further mention before the Brisbane Magistrates Court on 18 January, 2013.
The criminal charges were laid under section 408C(1) of the Queensland Criminal Code and carry a penalty of five years imprisonment. As the charge in relation to Independent Forklift Services (Qld) Pty Ltd relates to a sum greater than $30,000, the potential penalty (for that charge) is increased to a maximum of 10 years imprisonment.
Dillon would not comment on the charges against him when contacted by Forkliftaction.com News