The former financial controller and director of the Westpoint Group, Graeme Rundle, has been charged under the NSW Crimes Act.
The charges, brought by the Australian Securities and Investments Commission (ASIC), if successful, could see Rundle jailed for up to 10 years.
The charges allege that in May 2004, Rundle made false statements to a financial institution in support of an application for a $71 million credit facility to fund a Westpoint building project known as the Scots Church Development in York Street, Sydney.
It will be alleged that throughout the period, Rundle was the chief financial controller of the Westpoint Group and a director and secretary of the Scots Church Development Ltd and secretary of York Street Mezzanine, which were entities within the Westponit Group.
