Westpoint financial controller to stand trial
By Wouter Klijn
Wednesday 11 August 2010
Former Westpoint Group chief financial controller Graeme Rundle will stand trial in the Sydney District Court for allegedly making false statements in applying for a $ 71 million credit facility.
Rundle appeared in Sydney's Central Local Court on Tuesday and was committed to stand trial in relation to two charges brought by ASIC of making a false statement with intent to obtain a financial advantage in contravention of section 178BB of the NSW Crimes Act.
He is set down to appear before the District Court on 20 August and faces up to five years' imprisonment on each charge.
ASIC alleges that in May 2004, Rundle made false statements to a financial institution in support of an application for a $71 million credit facility to fund a Westpoint building project known as the Scots Church Development on York Street in Sydney.
Rundle was also director and secretary of the Scots Church Development and secretary of York Street Mezzanine, which were entities within the Westpoint Group of companies.
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