Insolvency: former liquidator charged with theft of funds from estate
Stuart Ariff, a former liquidator in Australia, has been charged with multiple offences of stealing funds from the estate of a company he was liquidating.
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Ariff has been charged with thirteen counts under section 176A of the NSW Crimes Act concerning his alleged transfer of funds totalling AUD1.18 million with intent to defraud HR Cook Investments.
Ariff has also been charged with six counts under section 1308(2) of the Corporations Act 2001 alleging he made false statements in documents lodged with ASIC recording receipts and payments relating to HR Cook Investments.
The alleged offences relate to Ariff's conduct whilst he was the liquidator of HR Cook Investments Pty Ltd (HR Cook Investments) (in liquidation) between 9 June 2006 to 29 March 2009.
The NSW Crimes Act charges each carry a maximum penalty of 10 years imprisonment. The Corporations Act 2001 charges each carry a maximum fine of AUD22,000 or imprisonment for five years or both.
Ariff has been released on conditional bail and is due to appear again on 7 September.
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