ALAN Dawson, a former managing director of listed company Voicenet Limited has appeared in the Perth Court of Petty Sessions on two charges brought by the Australian Securities and Investments Commission.
The charges are being prosecuted by the Commonwealth Director of Public Prosecutions.
Mr Dawson, of Peppermint Grove, was charged with two counts of failing to act honestly in the discharge of his duties as a director of Voicenet.
ASIC alleges that Mr Dawson failed to ensure Voicenet received payment of about $1 million on conversion of two million Voicenet options into ordinary Voicenet shares.
The conversion occurred on July 2 1999 and July 6 1999.
Payment was due from Property Corp International Pty Ltd, a company related to Mr Dawson, however, ASCI alleges payment was not made until four months after the options were exercised, during which time Mr Dawson sold Voicenet shares.
Mr Dawson was not required to entire a plea and was placed on personal bail, including a requirement to notify the CDPP of any intended travel.
The matter has been adjourned until October 10 for plea.
ASIC and the CDPP, in conjunction with the Australian Federal Police, have also obtained a restraining order over Mr Dawson’s private residence under the Commonwealth Proceeds of Crime Act that prevents him from disposing of the interest in the property pending determination of the charges.
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