Former registered liquidator and external administrator Peter Andrew Amos was sentenced on 13 December 2024 in the District Court of NSW to four years imprisonment after pleading guilty to charges of dishonestly using his position with the intention of gaining an advantage for his business and himself contrary to s 184(2)(a) of the Corporations Act 2001 (Cth).
The court imposed a non-parole period of two years.
Mr Amos first appeared in the Downing Centre Local Court on 17 June 2024, charged with four offences of dishonestly using his position as an officer of a company to gain an advantage for his business and himself contrary to s184(2)(a) of the Corporations Act 2001 (Cth). A further two offences were included on a schedule to be taken into account by the Court on sentence.
Mr Amos was a registered liquidator and business owner of Amos Insolvency Pty Ltd (Amos Insolvency).
As part of the sentencing hearing, the Court heard that from 6 October 2016 to 31 December 2022, Mr Amos transferred $2,998,546.59 (plus $19,936.86 for the scheduled offences) from the accounts of Mikcon Employment Services Pty Ltd, TPC (Vic) Pty Ltd, P O W 4X4 Pty Ltd, A-Force Electrics Pty Ltd, and Conomi Group Pty Ltd to Amos Insolvency. Mr Amos was the appointed external administrator or liquidator of the companies.
Once transferred, the funds were used to pay unrelated expenses of Amos Insolvency and for Mr Amos' personal purposes.
ASIC Deputy Chair Sarah Court said, 'Mr Amos systematically misappropriated funds across five companies over a six-year period, amounting to a serious betrayal of trust and an abuse of the obligations expected of administrators and liquidators.
'This sentence demonstrates that such behaviour will not be tolerated.'
ATO Deputy Commissioner and Serious Financial Crime Taskforce Chief John Ford welcomed the court's decision saying the sentencing was a warning to those looking to use their position to exploit the system.
'This outcome sends a clear message to those who look to gain an unfair advantage - you will be caught,' Mr Ford said.
The Court heard that Mr Amos and Amos Insolvency were not entitled to the funds, as all approved remuneration for Mr Amos in the administrations had been paid, and no additional remuneration determinations had been made by the creditors of the companies.
Her Honour Judge Tupman noted that the offending amounted to a 'significant breach of trust.'
Due to his conviction for these offences, Mr Amos is disqualified from managing corporations for a period of five years after the date he is released from prison.
Mr Amos is no longer a registered liquidator and cannot accept any appointments as an external administrator.
Background
Mr Amos was a registered liquidator from 11 May 2006 to 11 May 2023.
In April 2022, ASIC issued Mr Amos with a direction that he not accept further insolvency appointments due to his failure to lodge outstanding documents relating to the administration of Mikcon. From that point on he was unable to accept any new appointments as an external administrator.
After ASIC's investigation commenced, Amos requested that his registration as a liquidator be suspended. That suspension took effect from 4 February 2023.
Mr Amos did not renew his registration by 11 May 2023 which led to its automatic cancellation.
Mr Amos has been the sole director and a shareholder of Amos Insolvency since 1 December 2008.
Between 2015 and 2022, Amos Insolvency carried on business as an insolvency practice.
Mr Amos was appointed as Voluntary Administrator, and later as Deed Administrator of a Deed of Company Arrangement, in relation to Mikcon, TPC and Conomi. Mr Amos was appointed as the Liquidator of POW and A-Force.
The holding of these positions rendered him an officer of these companies for the purposes of the Act.
The matter was prosecuted by the Commonwealth Director of Public Prosecutions following an investigation and referral by ASIC as part of the ATO-led Serious Financial Crime Taskforce. ASIC is a member of the Commonwealth's Serious Financial Crime Taskforce.
The Serious Financial Crime Taskforce is an ATO-led joint agency taskforce that brings together the knowledge, resources and experience of relevant law enforcement and regulatory agencies to identify and address the most serious and complex forms of financial crime.
The SFCT started operation on 1 July 2015.
From this date until 30 June 2024, the Taskforce has progressed cases that have resulted in:
- more than 2,268 audits and reviews
- the conviction and sentencing of 46 people
- raised over $2.552 billion in liabilities
- collected more than $1.022 billion.
For more information on the SFCT, including the identikit outlining key financial crime personas, visit ato.gov.au/SFCT.
