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This table is intended to be used as a guide only. Individual cases should be read if they are to be relied upon. 

 

Fraud - Corporate/Company

See list of offences and penalties at end of table.

As to Tax Fraud in context of company see Table of Sentences: Tax Fraud

Case
(age if known)

Offence & Max PenaltiesAmountPleaOriginal SentenceAppealRecordFacts

Walker

NSWCCA 13.12.1993

12 x s.178BB (NSW) [5y] VG

MT 2y

AT 2y

Conviction ADNilManaging Director of private company - controlled 35% shares - made false statements to journalists over several months to favourably influence share prices and obtain profits on share trading.

Maslen

(1995) 79 A Crim R 199

s.178BB (NSW) [5y] VG

MT 18m

AT 6m

AA.

Exceptional circumstances - sick son.

3y PD

Priors for false pretences

Director of company made false statements in relation to his equity in company in order to persuade two people to invest $500,000 in purchasing manufacturing and distribution rights.

Parity – ill son

Robards

(54)

NSWCCA

23.7.1996

7 x 178A (NSW) [7y]$6,876PG

24m PD

GBB 5y

AD Real Estate agent stole from trust fund to support business.

Giallussi

(42)

[1999] NSWCCA 56

5 x s.29D (Cth) [10y]$264,110 (appellant received $39,000)PG$100,000 fine

AA

3y PD

(fine paid)

Nil

Female - Part-owner of nursing home involved in ongoing systematic falsification of records over period of approx 5y

Two teenage sons – remorse - motivated by greed - money repaid by sentence.

P Child

(49)

 

 

 

 

J Child

(28)

 

[1999] NSWCCA 407

3 x s.178A (NSW) [7y]

 

s.178BA (NSW) [5y]

 

3 x aiding and abetting s.178A (NSW) [7y]

$906,291

VG

 

 

 

 

 

VG

MT 4y

AT 1y 4m

 

FT 2y

(concurrent)

 

MT 2y 6m

AT 10m

ADNil

Father and son set up company - received money from clients and used it other than in accordance with terms received.

Father dominant offender

Both suffering hereditary brain damage - son suffering frontal lobe damage.

Boskovitz

(49)

[1999] NSWCCA 437

3 x s.178BB (NSW) [5y] VG

MT 3y

AT 2y

(identical concurrent sentences)

AA

MT 2y 3m

AT 1y 9m

(identical concurrent sentences)

nil

Female executive falsely led three banks to believe employer company in strong financial position in order to obtain credit facilities.

Good character - married with teenage son - no financial benefit - felt obliged to act as she did as employee.

Giam (No.2)

(43)

(1999) 109 A Crim R 348

s.176A (NSW) [10y]millionsVG5y GBB

Crown AA

MT 14m

AT 16m

(MT reduced by 10m for PSC - AT reduced 8m for period on bond)

nil

Accountant arranged for set off facility with bank for property management company - used it for own purposes to finance gambling addiction.

Married with two young children; prior good character.

Houghton

(54)

[2000] NSWCCA 62

26 x s.173 (NSW) [10y]$1,376,293PG

MT 18m

AT 2m

Crown ADnil

Defrauded investors in superannuation business for purpose of obtaining funds to set up new business

Funding gambling and personal loans to family - gave self in - health problems.

Phillis

(23-24)

[2001] NSWCCA 91

15 x s.178BA (NSW) [5y]

 

 

Possess counterfeit money

 

Sched:

56 x s.178BA

$240,329PG

MT 18m

AT 12m

 

 

6m

 

Total:

MT 2y

AT 12m

AA

MT 18m

AT 12m

 

1m

 

Total

MT 19m

AT 12m

some offences committed while on bail - driving offences

Committed offences in attempt to keep business going and pay creditors.  Offences committed over ten month period.

Found counterfeit notes and attempted to spend them.

Father of one child.

6m sentence reduced to 1m for possess counterfeit money count (imposed cumulative to fraud offences)

Woodman

(45)

[2001] NSWCCA 310

4 x s.88(a)(i) (NSW) [10y]

 

s.88(b)(i) (NSW) [10y]

 

Sched:

18 similar offences

$62,231.83

PG

(25%)

3y 9m

NPP 1y 3m

ADnil

Sole real estate agent failed to account for rental money over 4 year period - used money to support failing business.

Previous good character.

Because of unusual nature of offences difficult to use comparative statistics.

Kearns

[2003] NSWCCA 367

4 x s.232(6) (Cth) [5y]

 

3 x s.178BA (NSW) [5y]

 

2 x s.178BB (NSW) [5y]

$730,000+VG

6y

NPP 4y 6m

AD Made improper use of position as officer of company to cause four payments to be made to own company – deceitfully obtained bank cheques from company – dishonestly obtained funds from investors

Howard

(43)

[2003] NSWSC 1248

Kirby J

s.184(1)(b) (Cth) [5y]

 

s.184(1)(a) (Cth) [5y]

$119,000 - $124,000

PG

(40% / 33.3% - all factors)

3y

NPP 2y

Suspended

 Nil

Chief Investment Officer for HIH – received money to settle outstanding million dollar claims of one person with company – at least one claim involved double payment – acted dishonestly – aware company in financial trouble – serious breach of trust

Married with three children – prior good character – excellent prospects of rehabilitation – voluntary disclosure of guilty – excellent assistance

Adler

(46)

[2005] NSWSC 274

Dunford J

 

[2006] NSWCCA 158

2 x s.999 (Cth) [5y]

 

s.178BB (NSW) [5y]

 

s.184(1)(b) (Cth) [5y]

 

PG

(2 x 15%

2 x 25%)

4y 6m

NPP 2y 6m

ADNil

Director of HIH – offences serious and display appalling lack of commercial morality – not suggested offences caused collapse of HIH

Good character – significant pecuniary penalty and compensation order paid out

Williams

(68)

(2005) 152 A Crim R 548

NSWSC

Wood CJ at CL

s.996(1) (Cth) [5y]

 

s.184(1)(a) (Cth) [5y]

 

s.1308(2) (Cth) [2y]

 

PG

(25%)

4y 6m

NPP 2y 9m

 Nil

Chief Executive then Director of HIH – considerable abandonment of duty and significant breach of trust – recklessness not intentional dishonesty – offences did not cause HIH collapse – part of general mismanagement

Exemplary character – considerable and genuine remorse – extra curial consequences

Cassidy

(56)

[2005] NSWSC 410

Wood CJ at CL

2 x s.178BB (NSW) [5y]

 

s.184(1)(a) (Cth) [5y]

 PG

FT 9m

 

 

12m

suspended after 7m for 2y

 

Total:

15m

NPP 10m

 Nil

Managing Director of HIH – recklessly signed documents without making proper inquiries – knowingly signed false documents – offences did not cause HIH collapse

Good character – Assistance

Loiterton

(58)

[2005] NSWSC 905

Kirby J

s.999 (Cth) [5y] 

PG

(15%)

3y

NPP 1y 6m

 Nil

Director and chairmen made statement to Australian Stock Exchange known to be materially misleading – referred to cash payment to be received by company without mentioning condition to payment – seeking to boost share prices – deteriorating financial position of company

Experienced company director – health - delay

Martin

(41-45 at offence

53 at sentence)

[2005] NSWCCA 190

s.172 (NSW) [10y]$488,875

PG

(25%)

4y

NPP 3y

ADNil

Director of strata management agency took money over four years – attempting to make company look solvent – when discovered faked suicide and left state for 7 years

Good character

Cooper

(47)

[2006] NSWSC 609

James J

 

[2009] NSWCCA 57

6 x s.249B(2)(b) (NSW) [7y]

 

7 x s.178BB (NSW) [5y]

 VG

5y

NPP 2y

 

FT 3y 6m

 

Total:

8y

NPP 5y

 Nil

Involvement in HIH collapse – bribed HIH chief investment officer (Howard – (2003) NSWSC [1248]) to settle disputes between HIH and offender's company on favourable terms – total payment of $119,00 - $124,000 – created and provided HIH with false documents and statements in relation to outstanding claims by offender's company on HIH – bribery and documents resulted in unjustified payment of millions of dollars to offender's company – substantial damage to HIH

Bankrupt - $2.5m paid to liquidator – prior good character – good prospects of rehabilitation

Kelly

(51)

[2006] NSWSC 1142

Hall J

s.178BB (NSW) [5y] PG500h CSO Nil

Assistant company secretary for HIH – involved in concealing financial circumstances of associated company to avoid requirement to repay US$75m under conditions of covenant – acted under orders from superiors – concealment conducted over many months

Good character

Boulden

(42 at sentence – 33 at offence)

[2006] NSWSC 1274

Whealy J

s.590(1)(c)(iii) (Cth) [2y]$5.5m improper reduction made to financial statement

PG

(discount reflected in PD)

12m

PD

 Nil

Financial Controller in company related to HIH – arranged for improper reduction to company liabilities – released to Australian Stock Exchange as half yearly consolidated results – lied about reductions – middle management acting on direction – mid-level seriousness

Married with young children – good character – contrition – evidence of rehabilitation during delay

Lo

(57)

[2007] NSWSC 105

McClellan CJ at CL

3 x s.178BB (NSW) [5y]

 

s.184(1)(a) (Cth) [5y]

 

PG

(50% plea and assist)

9m Nil

Company secretary to HIH - intent to obtain financial advantage - pledging of assets - reckless signing of quarterly and annual returns - failure to disclose financial state of affairs - departure from standards of corporate governance

Assistance to authorities

Fodera

(48)

[2007] NSWSC 1194

Bell J

s.232(2) (Cth) [5y] 

PG

(15%)

3y 4m

(partially accumulated to existing sentence)

 

Total:

4y 10m

NPP 3y

 Nil

Chief financial officer of HIH – failed to inform directors and auditor of HIH true terms and effects of understandings and contractual arrangements to be entered into between subsidiary company and third party – second most senior officer – deliberate failure to disclose – above mid-range

See related sentence Fodera, [2007] NSWSC 1242

Fodera

(47)

[2007] NSWSC 1242

Latham J

s.996(1)(b)(i) (Cth) [5y] VG

3y

NPP 2y

 Nil

Chief financial officer and director of HIH – authorised issue of prospectus with material omission – acted dishonestly – breach of trust – deliberately misled potential investor

Prior good character

A.Gomes

 

 

 

 

 

J.Gomes

 

[2008] NSWCCA 142

12 x s.176A (NSW) [10y]

 

Sched:

62 x .s.176A

 

12 x s.176A (NSW) [10y]

 

Sched:

62 x .s.176A

$2.044m

PG

(35% all factors)

 

 

 

PG

(35% all factors)

5y

NPP 3y

 

 

 

 

5y

NPP 3y

AD 

Company directors – scheme involved selling false invoice debts to complainant company over several years – all invoices contained in charges repaid –representative offences – breach of trust

Seeking to avoid company bankruptcy – unlikely to re-offend

Kamha

[2008] NSWSC 765

Grove J

s.590(1)(c)(iii) (Cth) [2y]

 

Sched:

Fail to act honestly in discharge of duties

 PG

6m

Immediate release to recog for 12m

 Nil

Arranged for reduction in claims estimates in database of FAI which ultimately caused report to show profit of $3m instead of $8m loss – instructed by superior to make changes – not aware of impropriety at first – failed to report matter when became aware of impropriety – previous attempts to report matters rebuffed

Good character – offer to give assistance

Suleman

(46)

[2009] NSWCCA 70

15 x 178BB (NSW) [5y]

 

11 x 300(2) (NSW) [10y]

 

PG

(15%)

7y 4m

NPP 5y 6m

AA

6y 4m

NPP 4y 9m

Dishonesty

Induced, sometimes by fraudulent documents, members of public to invest in offender's company - company incorporated in 1999 to take over offender's highly successful business in collection of supermarket trolleys – company received investments totalling $3,185,000 –investors lost $828,915.

Respected member of Assyrian community – community members influenced by offender's position and reputation to invest.

O'Meara

(65)

[2009] NSWCCA 90

s.134.2(1) (Cth) [10y]

 

4 x Att s.134.2(1) (Cth) [10y]

Over $500k - almost  received payment of $15mVGPrior to 2000 fraud, firearms drugs

8y

NPP 5y 4m

ADFrom July 2001 to September 2002 made false claims for refunds of GST in Business Activity Statements submitted to Tax Office in names of companies controlled by offender - statements contained false information concerning alleged purchases claimed to have been made that incurred GST

Wakefield

[2010] NSWCCA 12

8 x s.173 (NSW) [10y]

 

Sched:

18 offences

$626,467PG

5y

NPP 4y

AA

5y

NPP 3y 9m

 Manager of company became involved in pre-existing diversion of funds for private use – took offences to new levels – offences committed over 3 years

Richard

(36)

[2011] NSWSC 866

Garling J

2 x s.1041G(1) (Cth) [5y]

 

Sched:

s.1041E(1) (Cth) [5y]

$26.6m

PG

(37.5% plea and assist)

3y 9m

NPP 2y 6m

 Nil

Director of financial investment company – over nearly four years directed superannuation funds into inappropriate overseas investments – aware conduct dishonest – received personal benefit of $1.3m – all money lost – nearing upper range of seriousness – pivotal role – central figure in Australia – motivated by greed – rolled up charges – carefully planned and concealed offences

Assistance – significant contrition – prior good character

Bangaru

[2012] NSWCCA 204

4 x s.178BB (NSW) [5y]

 

9 x s.178BA (NSW) [5y]

$3.7m

 

 

$19.8m

VG

8y 6m

NPP 6y 4m

ADNil

Director of two companies – Nov 2001-Dec 2003 misappropriated $3.7m from 17 investors – Jan 2004-July 2005 obtained $19.8m from financial institutions after making statements with reckless disregard to whether false and misleading in material particular – statements related to financial position of companies – substantial loss – planned / organised criminal activity

Married with children – family suffered security issues after arrest – good prospects of rehabilitation

Pogson

 

 

 

 

 

Lapham

 

 

Martin

 

[2012] NSWCCA 225

s.1308(2) (Cth) [2y]

 

s.178BB (NSW) [5y]

 

s.178BB (NSW) [5y]

 

s.178BB (NSW) [5y]

 PG

2y

ICO

 

 

 

 

2y

ICO

 

1y 4m

ICO

Crown ADnil

Directors provided false figures in prospectus – inflated figures by $8.4m – deliberate and planned offence – no loss to investors and no direct financial gain – Martin's criminality less

ICO imposed on Pogson and Lapham inadequate but discretion to dismiss Crown appeal exercised

Kerr

(46)

[2014] NSWCCA 235

11 x s.178BA (NSW) [5y]

 

2 x s.300(2) (NSW) [10y]

 

26 x Deal with proceeds of crime [20y]

$246,461.25VG

Agg sentence:

6y

NPP 4y

ADNil

Sent two faxes with falsified signature of business partner authorising payment of money into personal accounts – some money paid into first account transferred into second account and some money transferred back to company over four months – planned and protracted criminal activity

Suffering depression

Lu

[2014] NSWCCA 307

21 x s.176A (NSW) [10y]

 

s.178BA (NSW) [5y]

$2.163mVG

9y

NPP 6y

ADDishonesty as bank worker

Set up company and invited investments – falsely linked investments to 'Perpetual' brand name – took money but did not invest – offences committed over 3 years – 11 victims – many victims lost life savings

Suffering PTSD from assault linked to offences

De Angelis

(50)

[2015] NSWCCA 197

14 x s.176A (NSW) [10y]

 

2 x s.178BA (NSW) [5y]

$8.5m

PG

(12.5%)

12y

NPP 7y 6m

ADNil

2004-2010 – director of registered music company – persuaded 16 victims to invest large sums of money – made extravagant false claims about financial and social standing and association with significant world figures – gave victims false information about finances – company had no real business dealings and was under threat of deregistration by ASIC

Difficult childhood as orphan

Sigalla

(51 at sentence)

[2016] NSWSC 52

Adamson J

24 x s.184(2)(a) (Cth) [5y]Over $8.6mVG

10y

NPP 6y

 Nil relevant

Dec 2006 - Mch 2009 – company director helped himself to funds and shares – gross dereliction of duties – damage to investor confidence in public company

No remorse

Falconer

(70 at sentence)

[2018] NSWSC 1765

Adamson J

 

 

Co-offender:

SIGALLA

​4 x s.184(2)(a) (Cth) [5y]

 

s.184(2)(b) (Cth) [5y]

 

s.1309(1) (Cth) [5y]

$6,276,783
​PG

(25%)

Total

4y 6m

NPP 3y

​Nil
​Dec 2006-Feb 2009 – director involved in stealing money from company – gross dereliction of duty – breach of statutory and fiduciary duties - personal gain $1,419,000 – as director and company secretary reviewed and signed report to ASX failing to disclose payments – lesser offender – serious offences

Good character – poor physical and mental health – lost reputation – did not oppose extradition

Last updated: 19.11.2018

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Table of Offences

​Offence​Section​Act​Maximum Penalty
Larcenys.117Crimes Act 1900 (NSW)5 years
Steal, embezzle or for fraudulent purpose destroys etc whole or part of valuable securitys.134Crimes Act 1900 (NSW)5 years
Larceny by clerk or servants.156Crimes Act 1900 (NSW)10 years
Embezzlement by clerk or servants.157Crimes Act 1900 (NSW)10 years
Falsification of accounts by clerk or servants.158Crimes Act 1900 (NSW)5 years
Agent misappropriates money entrusted to him or hers.165Crimes Act 190010 years
Trustee fraudulently disposes of propertys.172Crimes Act 190010 years
Director of company or member of body corporate fraudulently appropriate property of company or body corporates.173Crimes Act 1900 (NSW)10 years
Director falsifies books with intent to defrauds.175Crimes Act 1900 (NSW)10 years
Cheat or defraud as director or member of body corporate or public companys.176ACrimes Act 1900 (NSW)10 years
Fraudulent misappropriation of money collected or receiveds.178ACrimes Act 1900 (NSW)7 years
Pass valueless cheque with intent to defrauds.178BCrimes Act 1900 (NSW)1 year
Obtain valuable thing by deceptions.178BACrimes Act 1900 (NSW)5 years
Obtain valuable thing by false or misleading statements.178BBCrimes Act 1900 (NSW)5 years
Obtaining credit by frauds.178CCrimes Act 1900 (NSW)1 year
Obtain property by frauds.179Crimes Act 1900 (NSW)5 years
Dishonestly by deception obtain property or financial advantage or cause financial disadvantages.192ECrimes Act 1900 (NSW)10 years
Corruptly receive or solicit commission or rewards.249BCrimes Act 1900 (NSW)7 years
Forging wills.271Crimes Act 1900 (NSW)14 years
Make false instrument / use false instruments.300 (1) & (2)Crimes Act 1900 (NSW)10 years
Obtains valuable thing from Commonwealth by false pretencess.29ACrimes Act 1914 (Cth)5 years
Imposition on Commonwealths.29BCrimes Act 1914 (Cth)2 years
Defraud Commonwealths.29DCrimes Act 1914 (Cth)10 years
Conspiracy to Defraud Commonwealths.29D / s.86(2)Crimes Act 1914 (Cth)20 years
Steal, fraudulently misappropriate or fraudulently covert to own use Commonwealth propertys.71(1)Crimes Act 1914 (Cth)7 years
Conspiracy to defrauds.86ACrimes Act 1914 (Cth)20 years
Officer of corporation providing false informations.564(1)Companies (NSW) Code2 years
Open account / operate account in false names.24(1) / 24(2)Financial Transactions Reports Act 1988 (Cth)2 years
Conduct transactions to avoid reporting requirementss.31Financial Transactions Reports Act 1988 (Cth)5 years
Make false / misleading statement in support of claim for Commonwealth benefits.62(1)National Health Act 1953 (Cth)5 years
Fraudulently omitting to account for deposits.88(a)(i)Property, Stock and Business Agents Act 1941 (NSW) (since repealed)10 years
Fraudulently convert property to own uses.88(b)(i)Property, Stock and Business Agents Act 1941 (NSW) (since repealed)10 years
Being reckless and failing to discharge duties as director in good faith and in the best interests of the companys.184(1)(a)Corporations Act 2001 (Cth)5 years
Being intentionally dishonest and failing to discharge duties as director in good faith and in the best interests of the companys.184(1)(b)Corporations Act 2001 (Cth)5 years
A director, other officer or employee uses position dishonestly with intention of directly or indirectly gaining advantage for themselves or someone else, or causing detriment to corporations.184(2)(a)Corporations Act 2001 (Cth)5 years
A director, other officer or employee uses position dishonestly reckless as to whether the use may result in themselves or someone else directly or indirectly gaining an advantage or causing a detriment to corporations.184(2)(b)Corporations Act 2001 (Cth)5 years
Being privy to fraudulent altering of books of companys.590(1)(c)(iii)Corporations Act 2001 (Cth)2 years
Authorise issue of prospectus with material omissions.996(1)Corporations Act 2001 (Cth)5 years
Disseminating information knowing it was false in a material particular, and which was likely to induce purchase of sharess.999Corporations Act 2001 (Cth)5 years
Dishonest conduct in course of carrying on a financial services businesss.1041G(1)Corporations Act 2001 (Cth)5 years - increased to 10 years
Make materially misleading statement likely to induce person to acquire financial productss.1041E(1)Corporations Act 2001 (Cth)5 years - increased to 10 years
Make or authorise misleading statement in document required for purposes of Corporations Laws.1308(2)Corporations Act 2001 (Cth)2 years
Officer knowingly or recklessly failed to act honestly in exercise of power and discharge of dutiess.232(2)Corporations Law (Cth)5 years
An officer or employee of a corporation must not, in relevant circumstances, make improper use of his or her position as such an officer or employee, to gain, directly or indirectly, an advantage for himself or herself or for any other person or to cause detriment to the corporation.s.232(6)Corporations Law (Cth) 
Theft from Commonwealth entitys.131.1Criminal Code (Cth)10 years
Obtain financial advantage by deceptions.134.2Criminal Code (Cth)10 years
Dishonestly intend to gain or cause loss to Commonwealth entitys.135.1Criminal Code (Cth)5 years
Conspiracy to defraud Commonwealth entitys.135.4Criminal Code (Cth)10 years

 

 

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