The corporate watchdog has banned West Leederville man Mark Goldenberg from managing companies for five years, after failing to adequately perform duties as a director.
The Australian Securities and Investment commission banned Mr Goldenberg after an investigation into his role in four failed companies; Mortimer Close Pty Ltd, Terra Firma Capital Pty Ltd, Concentric Private Wealth Management Pty Ltd and Concentric Accounting Pty Ltd.
The companies were placed into liquidation between October 2008 and March 2009, ASIC said.
Mr Goldenberg was also a director of Concentric Financial Planning Pty Ltd, currently in liquidation, and Concentric Wealth Management Pty Ltd (CWM), to which receivers were appointed.
ASIC said it found Mr Goldenberg had failed to understand the role and duties of a director, or failed to perform adequately his director duties with regard to the size of deficiencies in the companies at time of liquidations, the value of outstanding liabilities and lack of proper records.
Mr Goldenberg has the right to lodge an appeal.
