Benjamin Thomas Molloy of Point Cook, Victoria appeared at the Melbourne Magistrates Court charged with one count of breaching his duties as a director pursuant to section 184(2)(a) of the Corporations Act 2001 (Cth) and five counts of making false statements to ASIC pursuant to section 1308(2) of the Corporations Act 2001 (Cth).
Following an ASIC investigation, it is alleged that between 17 September 2019 and 1 July 2021, Mr Molloy dishonestly used his position as a director of Consultel Cloud Pty Ltd (In Liquidation) (Consultel Cloud) by causing the sale proceeds of a motor vehicle asset to be redirected to another company he was the director of, namely Consultel Group Pty Ltd (In Liquidation) and that he also made five false statements in forms lodged with ASIC.
Mr Molloy appeared in the Melbourne Magistrates Court on 22 April 2024. The matter has been adjourned to 15 July 2024 for a committal mention.
This matter is being prosecuted by the Commonwealth Director of Public Prosecutions.
Background
The maximum penalty for the alleged offences ranges between 5 and 15 years imprisonment.
ASIC commenced an investigation after receiving a funded report from David Coyne of BRI Ferrier, the liquidator appointed to Consultel Cloud on 23 June 2021. ASIC provided funding to Mr Coyne to investigate from the Assetless Administration Fund.
