Westpoint promoter found guilty

Westpoint promoter Neil Burnard has been found guilty on nine criminal charges in the NSW District Court.

Below is the full ASIC announcement:

Mr Neil Austin Burnard was today found guilty by a jury in the District Court of New South Wales on nine criminal charges following an Australian Securities and Investments Commission investigation. The Commonwealth Director of Public Prosecutions prosecuted the matter.
Mr Burnard was found guilty under the Crimes Act of NSW of obtaining a financial advantage for various Westpoint Mezzanine companies by making or publishing a statement which he knew to be false in a material particular. Mr Burnard had made statements that he was a director of 'Kebbel Investment Bank'; this entity did not exist.
The verdict arises from ASIC's investigation into the affairs of Kebbel (NSW) Pty Ltd, now known as Palentia Pty Ltd, which formed part of a broader investigation into the collapse of the Westpoint Group of Companies.
Mr Burnard pleaded not guilty to the charges on 21 April 2008.
The convictions follow a two-week trial before Judge Charteris. A number of investors gave evidence at the trial.
Mr Burnard was granted bail and is to be sentenced in the District Court on 20 June 2008.