Director gets suspended sentence

16/10/2015 - 10:08

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Oliver Wood, the director of three Perth-based web development and digital marketing companies, has been handed a 10-month suspended prison sentence for using his position dishonestly to gain an advantage.

Director gets suspended sentence

Oliver Wood, the director of three Perth-based web development and digital marketing companies, has been handed a 10-month suspended prison sentence for using his position dishonestly to gain an advantage.

Wood was sentenced to 10 months imprisonment, fully suspended upon entering into a $5,000 recognisance to be of good behaviour for 10 months, and was fined $40,000.

He was convicted in the District Court last week on three counts of using his position as a director of SEO Company dishonestly, including withdrawing more than $29,000 from the company’s bank account for personal use, and four counts of making a false statement in a document lodged with the Australian Securities and Investments Commission.

“It is important for directors to understand their obligations,” Asic commissioner Greg Tanzer said.

“Asic is committed to holding those who intentionally break the law into account.”

Wood will also not be allowed to manage a company for five years as a result of his conviction.

He has until recently been managing director of Digital Monopoly, a position he held since 2007.

The Digital Monopoly Group includes perthwebdesign (which is different from PerthWeb).

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