Former liquidator, Mr Stuart Ariff, has appeared in the Hornsby Local Court after his arrest on 19 criminal charges following an investigation by the Australian Securities and Investments Commission (ASIC).
The alleged offences relate to his conduct whilst he was the liquidator of HR Cook Investments Pty Ltd (HR Cook Investments) (in liquidation) between 9 June 2006 to 29 March 2009.
Mr Ariff has been charged with thirteen counts under section 176A of the NSW Crimes Act concerning his alleged transfer of funds totalling $1.18 million with intent to defraud HR Cook Investments.
Mr Ariff has also been charged with six counts under section 1308(2) of the Corporations Act 2001 alleging he made false statements in documents lodged with ASIC recording receipts and payments relating to HR Cook Investments.
The NSW Crimes Act charges each carry a maximum penalty of 10 years imprisonment. The Corporations Act 2001 charges each carry a maximum fine of $22,000 or imprisonment for five years or both.
Mr Ariff has been released on conditional bail.
The matter is being prosecuted by the Commonwealth Director of Public Prosecutions.
This matter has been remitted for mention at the Downing Centre Local Court on 7 September 2010.
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