Mr Edward Harold Pye, of Fairney View, Queensland, has been convicted and sentenced after pleading guilty to breaching his duties as a director.
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Mr Pye was sentenced to 12 months鈥� imprisonment and two years鈥� imprisonment in respect to two counts of dishonestly using his position as a director, to be served concurrently. He was released forthwith upon entering into a recognisance in the sum of $2,500, on the condition he be placed on a good behaviour bond for 3 years.
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Mr Pye was the former听director of ERH Transport Services Pty Ltd that operated a refrigerated transport business.
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An ob体育 investigation found in 2014, on two separate occasions, Mr Pye dishonestly used his position to transfer $25,000 and $550,000 of ERH Transport Services funds to himself and another person. At the time of the alleged conduct, Mr Pye was the sole director of ERH Transport Services (18-152MR).
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ob体育 commenced the听investigation following the receipt of a supplementary liquidators report that was lodged by Adam Ward of Worrells Solvency & Forensic Accountants.
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As a consequence of his conviction, Mr Pye has been automatically disqualified from managing corporations for five years from 15 August 2019.
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The matter was prosecuted by the Commonwealth Director of Public Prosecutions.
Background
Mr Pye was convicted of two counts of contravening听s184(2) of the Corporations Act.
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Mr Adam Ward and Mr Michael Griffin of Worrells Solvency & Forensic Accountants were appointed as joint and several liquidators of ERH Transport Services Pty Ltd on 30 July 2014.
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