The chief executive of failed broking firm Sonray Capital has pleaded guilty to 10 criminal charges related to the company's collapse.
Scott Kenneth Murray pleaded guilty to six counts of false accounting regarding millions of dollars in fictitious deposits, and false withdrawals of $7.8 million.
He also admitted two counts of theft that totalled $2.26 million, as well as obtaining a financial advantage by deception and misleading an auditor.
Most of the charges carry a maximum penalty of 10 years each.
Mr Murray made the guilty pleas in the Melbourne Magistrates' Court after being arrested on charges brought after an investigation by the Australian Securities and Investments Commission.
He has been released on bail on the condition that he surrender his passport and reside at his residential address.
Mr Murray will appear before the Supreme Court of Victoria for another hearing on March 7 2011.
Sonray was established in 2003 and dealt in contracts for difference (CFDs), equities, futures and foreign exchange, with offices in Melbourne, the Gold Coast and Rockhampton.
It went into voluntary administration in June last year, and was put into liquidation in October with a shortfall of $46.7 million between its client positions and assets to cover those positions.
The collapse affected around 3,500 clients and 54 employees.
0 comments:
Post a Comment