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A disgraced former Sydney liquidator is now facing possible jail time after being charged with dishonesty offences.
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Former insolvency partner faces jail time charges
15 July 2020
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9 minute read
Former Jirsch Sutherland partner, Amanda Young has been charged with three counts of using her position dishonestly to gain an advantage under section 184(2) of the Corporations Act 2001 and one count of dishonestly obtaining a financial advantage by deception under section 192E(1)(b) of the Crimes Act 1900 (NSW) following an ASIC investigation.
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The maximum penalty for the charges brought under the Corporations Act 2001 is five years’ imprisonment, 2,000 penalty units or both, while the maximum penalty for the charges brought under the Crimes Act 1900 (NSW) is 10 years’ imprisonment, 1,000 penalty units or both.
Ms Young, of Lewisham, New South Wales, was a former registered liquidator who saw her registration cancelled by ASIC last month, after a disciplinary committee concluded that she had improperly used her position, falsified books and misappropriated funds totalling close to $240,000.
An investigation by the corporate regulator alleges that between 10 December 2017 and 5 December 2018, Ms Young, while a liquidator of Admark Property Group Pty Ltd, Roller Poster Company Pty Ltd and Mamak Pty Ltd, caused the transfer of a total of $73,140 from the liquidation bank accounts for those companies to bank accounts that she controlled and then used the funds for her own purposes.
ASIC also alleges that between 23 October 2018 and 2 November 2018, Ms Young, while a manager for the liquidation of St Gregory’s Armenian School Incorporated, caused three bank cheques totalling $165,362 to be drawn in her favour from the St Gregory’s liquidation account and then deposited them to bank accounts that she controlled.
The matter has been adjourned for a further mention at the Downing Centre Local Court in Sydney on 8 September.
The Commonwealth Director of Public Prosecutions is prosecuting the matter.
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