{"id":36283,"date":"2013-06-16T18:13:19","date_gmt":"2013-06-16T08:13:19","guid":{"rendered":"http:\/\/southburnett.com.au\/news2\/?p=36283"},"modified":"2020-09-17T11:53:00","modified_gmt":"2020-09-17T01:53:00","slug":"bankrupt-found-guilty","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2013\/06\/16\/bankrupt-found-guilty\/","title":{"rendered":"Bankrupt Found Guilty"},"content":{"rendered":"

June 16, 2013<\/strong><\/p>\n

A Kingaroy man who withdrew $31,090 from his bank account before declaring bankruptcy has been found guilty of 16 charges.<\/p>\n

Regulation and Enforcement National Manager at the Insolvency and Trustee Service Australia Mr Tim Cole said investigators had concluded the man predominately used the money for gambling.<\/p>\n

\u201cIt is important that Australians are made aware that it is a serious offence under the Bankruptcy Act 1966 to remove or conceal assets prior to bankruptcy,\u201d Mr Cole said.<\/p>\n

In a summary hearing in the Kingaroy Magistrates Court, evidence was provided that the man had received significant insurance payouts in early 2010.<\/p>\n

However rather than paying all his creditors, he used some of the funds for gambling from April 2010 to June 2010, knowing at the time that he was at risk of becoming bankrupt.<\/p>\n

He filed for bankruptcy in August 2010.<\/p>\n

The man was found guilty of 16 offences under the Bankruptcy Act 1966 on May 22 and sentenced to three months jail but was released immediately on a $1000 two-year good behaviour bond.<\/p>\n

\u201cThe bankruptcy provisions exist to relieve people of crushing debts which carry with them a responsibility to not abuse the system,” Mr Cole said.<\/p>\n

Magistrate Mark Bucknall said gambling could not be seen as a mitigating factor and that the sentence called for both specific and general deterrence.<\/p>\n

Chief Executive of Insolvency and Trustee Service Australia, Veronique Ingram, said the outcome was the result of a thorough investigation process and confirmed that ITSA and the courts take breaches of the Bankruptcy Act 1966 very seriously and would prosecute accordingly.<\/p>\n","protected":false},"excerpt":{"rendered":"

A Kingaroy man who withdrew $31,090 from his bank account before declaring bankruptcy has been found guilty of 16 charges.<\/p>\n","protected":false},"author":20,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[3,24],"tags":[155,21,1132],"yoast_head":"\nBankrupt Found Guilty - southburnett.com.au<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/southburnett.com.au\/news2\/2013\/06\/16\/bankrupt-found-guilty\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bankrupt Found Guilty - southburnett.com.au\" \/>\n<meta property=\"og:description\" content=\"A Kingaroy man who withdrew $31,090 from his bank account before declaring bankruptcy has been found guilty of 16 charges.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/southburnett.com.au\/news2\/2013\/06\/16\/bankrupt-found-guilty\/\" \/>\n<meta property=\"og:site_name\" content=\"southburnett.com.au\" \/>\n<meta property=\"article:published_time\" content=\"2013-06-16T08:13:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-09-17T01:53:00+00:00\" \/>\n<meta name=\"author\" content=\"Anne Miller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anne Miller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/southburnett.com.au\/news2\/2013\/06\/16\/bankrupt-found-guilty\/\",\"url\":\"https:\/\/southburnett.com.au\/news2\/2013\/06\/16\/bankrupt-found-guilty\/\",\"name\":\"Bankrupt Found Guilty - 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