Investor and entrepreneur Michael Boyd has been rapped over the knuckles by the corporate regulator and his company Fulcrum Equity fined $15,000 after failing to lodge annual accounts.
The latest action follows the delisting of Fulcrum shares from the Australian Securities Exchange last August.
Fulcrum was fined $15,000 by the Melbourne Magistrates’ Court for failing to lodge its annual financial reports with the Australian Securities and Investments Commission and not reporting to its members.
Mr Boyd, who acts as Fulcrum’s company director and secretary, pleaded guilty to the offences but had no conviction recorded against him.
Fulcrum, formerly known as Quadrant Iridium, sold its last major asset (an interest in the Iridium satellite business) in 2008.
Mr Boyd, who is from Perth but moved to Melbourne, is best known as a healthcare entrepreneur, having played a significant role in Sonic Healthcare and Foundation Healthcare.