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Perth bookkeeper faced 13 counts of theft against a mining company but the case has been discontinued.
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DPP drops charges against WA accountant accused of stealing $725k
02 November 2022
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9 minute read
The DPP has dropped 13 charges of theft against a former bookkeeper at Legacy Iron Ore, Karen Kwan, following a review of the case.
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Ms Kwan was initially charged with stealing $725,000 from the ASX-listed mining exploration company in collaboration with a former managing director, Sharon Kia Le Heng.
At a committal hearing in Perth Magistrates Courts last Friday the Commonwealth DPP said the charges against Ms Kwan, which date back to 2020, would be discontinued.
The charges came after ASIC investigators alleged Ms Kwan and Ms Heng organised 13 electronic fund transfers from Legacy’s bank accounts to the bank account of Regency Infrastructure, a company controlled by Ms Heng, over 16 months to November 2013.
Ms Heng resigned from her seven-year position as managing director and stepped down from the board in 2014 following a review and analysis of the financial transactions.
ASIC alleged that Ms Heng concealed the electronic fund transfers from the Legacy board and went on to use the transferred funds for her own benefit.
Both women were granted bail in March 2021 on condition that they surrendered their passports.
Ms Heng pleaded guilty to one offence of stealing contrary to subsection 378(8) of Criminal Code (Western Australia) on 29 July 2022 and faces a maximum penalty of 10 years’ imprisonment.
Her case has been adjourned to 9 February 2023 for further mention at the District Court of Western Australia.
Prior to the charges, Ms Heng agreed to “pay the board approximately $868,000 to the company with payments scheduled to occur over a five-year period on an interest bearing basis,” the company said.
The company, Legacy Iron Ore, is an Australian based exploration company with a diverse portfolio of assets spanning iron ore, gold, base metals and tungsten in Western Australia.
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