Australian Securities Authority Charges Gold Coast Company Director With $2 Million Fraud – ASIC

LAWFUEL – The NZ + Australian Legal Newswire – Mr Robert Norman Dale, 50, of the Gold Coast, yesterday appeared in the Southport Magistrates Court charged with eight counts of fraud. The charges follow an investigation by the Australian Securities and Investments Commission (ASIC).

ASIC alleges that between July and November 2004, Mr Dale dishonestly gained a benefit for Water at Wooyung Pty Ltd by inducing various investors to pay $2 million to acquire units in the Water at Wooyung Unit Trust. At the time, Mr Dale was the director of Water at Wooyung Pty Ltd, which was the corporate trustee of the Water at Wooyung Unit Trust.

ASIC alleges that those who invested in the development never received the units in the unit trust that they were promised and further, that the $2 million invested was not applied by Water at Wooyung Pty Ltd for the purpose of developing the Wooyung property.
The Court granted Mr Dale bail with residential and reporting requirements and prohibited him from approaching any international port of departure.

The matter was adjourned for further mention on 4 December 2007.
The Commonwealth Director of Public Prosecutions is prosecuting the matter.

Scroll to Top