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.
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