03/04/2019 - 12:24

Fraud conviction for former WA company director

03/04/2019 - 12:24

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The Perth District Court has found former C&G Group Industries director, Christopher Edward Eric Skelly, guilty of a fraud charge brought by the Australian Securities and Investments Commission.

Eric Skelly was found guilty by a jury in the Perth District Court on March 25 and he will be sentenced on April 17. Photo: Gabriel Oliveira

The Perth District Court has found former C&G Group Industries director, Christopher Edward Eric Skelly, guilty of a fraud charge brought by the Australian Securities and Investments Commission.

Skelly was found guilty of intent to defraud by deceit or fraudulent means and gaining a benefit of $529,380 for the company between December 11 2014 and January 12 2015.

ASIC had alleged Skelly deceived a factoring company, which provided loans to businesses based on the security of outstanding invoices.

He emailed the factoring company an invoice and other documents that created the false impression that monies were owed to C&G by debtors, when in fact they were not.

The factoring agency believed the statements to be genuine and paid C&G $529,380.

C&G, which provided crushing and screening services, went into administration on April 28 2015 and liquidators were appointed on May 29 2015.

It had total liabilities of more than $4 million owed to 54 creditors.

ASIC started investigating C&G after receiving a report from its liquidators, David Ross and Cameron Shaw from Hall Chadwick WA.

Skelly was found guilty by a jury in the Perth District Court on March 25 and will be sentenced on April 17.

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