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Real Life Sentencing Case Summary

277 Words2 Pages

These are all real-life penalties that directors have faced just in the past few years. In March 2012 the former directors of Australian Capital Reserve Ltd were sentenced to terms of imprisonment to be served by way of an intensive correction order (ICO) following an ASIC investigation. The charges related to false or misleading statements in the company’s accounts and prospectus. Two directors, Samuel Pogson and Murray Lapham, were each given two years, and the third director, Steven Martin, was sentenced to one year and four months in prison. Later that August, a court found that Andrew Alexander Lindberg, former managing director of AWB Ltd (AWB), had breached his duties. The court ordered him to pay a penalty of A$100,000, and he was

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