Director Disqualification

Mr Pasquale Lanciana, also known as Percy Lanciana, was convicted yesterday in the Sunshine Magistrates’ Court after pleading guilty to eight charges brought by ASIC.

Mr Lanciana, a concrete panel builder, based in Maidstone, Victoria, was fined $4000 for managing Victoria Pre Cast Pty Ltd while disqualified.

ASIC’s investigation found that Mr Lanciana acted as a company director between January and May 2007 despite being disqualified as a result of a previous theft conviction.

Victoria Pre Cast Pty Ltd went into liquidation in October 2007 owing over $2.8 million to unsecured creditors.

The matter was prosecuted by the Commonwealth Director of Public Prosecutions.

Individuals who are convicted of a fraud or dishonesty offence which is punishable by imprisonment for at least three months are automatically disqualified from managing corporations for five years. If the convicted individual is sentenced to a period of imprisonment, the five year disqualification period commences from the day they are released from prison.