Fincorp CEO jailed
One of the men at the centre of one of Australia’s most significant recent financial services collapses, the former chairman and chief executive of Fincorp Investment Limited, Eric Krecichwost, has been sentenced to three and a half years’ jail with a non-parole period of eight months.
Krecichwost was sentenced in the Parramatta District Court on three offences relating to breaches of the Corporations Act involving dishonest use of his position as a company director with the intention of gaining an advantage for himself and others.
Krecichwost has also been disqualified from managing a corporation in Australia, including as a director of a company, for five years from the date of his release from prison.
Krecichwost was convicted of the offences in February after a jury found that in September and October, 2003, he dishonestly signed three company cheques for $900,000, $825,000 and $1,980,000 to pay for services that were never provided.
It was alleged that Krecichwost personally received most of the proceeds of the cheques.
AUTHOR
Mike Taylor
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