Tuesday , April 20 2021

Qld liquidator pleads guilty to fraud



The former liquidator in Brisbane admitted guilty that he received $ 800,000 from a property development company for which he was appointed to dissolve.

David John Leigh, 56, from Sherwood, has admitted three serious frauds in the Brisbane court, the Australian Securities and Investment Commission said in a statement on Thursday.

The company said between July and November 2017 that Leigh had transferred the money from Neolido Holdings Pty Ltd's external administrative bank account into an account that he controlled and used for his own purposes.

The former PPB Advisory partner was designated as a co-liquidator of a property development company in southern Brisbane in 2010 after it was completed after the lawsuit was filed with ASIC.

After the ASIC inquiry, Leigh's registration as a company liquidator was suspended in 2018 and Leigh agreed to resign as an external administrator of all his current names, ASIC said.

Since then, the replacement liquidators in 16 Leigh companies have been appointed sole liquidators.

The maximum penalty for a fraud involving $ 100,000 or more is 20 years in prison.

The date for Leigh's decision at the Brisbane District Court has not yet been determined.


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