Former Westpoint executive found guilty
Former Westpoint chief financial controller, Graeme Rundle, has been found guilty of lying to a bank to obtain more than $71 million for a Sydney property project, according to the Australian Securities and Investments Commission (ASIC).
The two charges of making a misleading statement to a financial institution for obtaining a financial advantage related to a finance facility for a construction project in York Street, Sydney.
Rundle, who was granted conditional bail, will be sentenced before Judge Bozic in the Disctrict Court of New South Wales on 12 August, 2011.
He was found guilty by a jury in the District Court of NSW, while the two criminal charges were brought by ASIC.
The Westpoint Group of companies collapsed in 2006 after several years of operating a Ponzi scheme, with some client compensation settlements still being processed.
Recommended for you
The central bank has released its decision on the official cash rate following its November monetary policy meeting.
ASIC has cancelled the AFSL of a Melbourne-based managed investment scheme operator over a failure to pay industry levies and meet its statutory audit and financial reporting lodgement obligations.
Melbourne advice firm Hewison Private Wealth has marked four decades of service after making its start in 1985 as a “truly independent advice business” in a largely product-led market.
HLB Mann Judd Perth has announced its acquisition of a WA business advisory firm, growing its presence in the region, along with 10 appointments across the firm’s national network.
