LAWFUEL – The Legal Newswire – Mr Roger Thomas May, of Macedon, and his son Mr Jason Roger May, of Port Melbourne, Victoria, have today been convicted and sentenced in the Victorian County Court on one charge each brought by the Australian Securities and Investments Commission (ASIC).
Mr Roger May, 61, and Mr Jason May, 35, pleaded guilty to dishonestly using their positions as directors of Australon Enterprises Pty Ltd (Australon Enterprises). Roger May was sentenced to one year imprisonment, which was wholly suspended. Jason May was sentenced to nine months imprisonment which was also wholly suspended. Both men were required to enter into a recognisance to be of good behaviour for two years.
The charges relate to both men creating a false company resolution in November 2003, which enabled them to transfer 60 million shares in a listed company, Intermoco Limited to Global Investment Funds Pty Ltd (Global Investments). The shares were held by Australon Enterprises. At the time of the share transfer, Global Investments was a company controlled by Mr Roger May.
The matter was prosecuted by the Commonwealth Director of Public Prosecutions.