Search

Lux Daswani committed for trial

FORMER Gold Coast businessman Lakhmi Daswani, also known as Lux Daswani, has been committed to stand trial in the District Court on charges relating to his failed businesses.

Mr Daswani’s company the Daswani Group owes BankWest about $18 million.

The Daswani Group, which was involved in the retail of jewellery, children’s wear and surf clothing in Brisbane, the Gold Coast, the Sunshine Coast and Victoria, was placed into administration in 2000, owing more than $30 million.

Mr Dawani has been committed for trial in relation to 15 charges under the Corporations Act and 12 charges under the Criminal Code for Queensland.

The Corporations Act charges relate to allegations that he dishonestly misused his position as a company director with the intention of causing a detriment to a company.

The Queensland Criminal Code charges relate to allegations that Mr Daswani dishonestly induced various financiers to loan money to companies in the Daswani Group through the use of false invoices and false contracts of sale.

ASIC alleges that the amount of money involved in these offences totals more than $10 million.

Mr Daswani was extradited from Hawaii in June to face the charges and has been remanded in custody pending a hearing in the Brisbane District Court. The date for that hearing is yet to be fixed.

Add your comment

BNIQ sponsored byECU School of Business and Law

Students

6th-Australian Institute of Management WA20,000
7th-Murdoch University16,584
8th-South Regional TAFE10,549
9th-Central Regional TAFE10,000
10th-The University of Notre Dame Australia6,708
47 tertiary education & training providers ranked by total number of students in WA

Number of Employees

BNiQ Disclaimer