Director appears in court
A Victorian man, who allegedly defrauded two companies after they had been placed into liquidation, faced court yesterday in relation to charges brought by the Australian Securities and Investments Commission (ASIC).
Paul Michael Belousoff was charged with eight counts of engaging in conduct that resulted in the fraudulent concealment or removal of company property and one count of fraudulently making a material omission in a report as to affairs.
ASIC alleged that Belousoff, who was the sole director of the two companies, Index Options and Bel Investments, fraudulently removed or concealed more than $1 million worth of property belonging to the companies.
Belousoff was not required to enter a plea and the matter was adjourned to June 16, 2008, for committal mention.
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