Thursday 22 June 2006 – LAWFUEL – Press Release Service – The former…

Thursday 22 June 2006 – LAWFUEL – Press Release Service – The former director of a Melbourne-based advertising business has been charged with dishonestly using his position and obtaining a financial advantage, following an investigation by the Australian Securities and Investments Commission (ASIC). Mr John Tsingaris, 48, of Melbourne, Victoria, has appeared in the Melbourne Magistrates Court on 55 charges, the majority of which relate to his conduct as a director of plasma screen advertising business, Marketing Solutions Group (Australasia) Pty Ltd (MSGA).

The charges relate to offences under the Corporations Act 2001 (Cth) and the Crimes Act 1958 (Vic). ASIC alleges that Mr Tsingaris transferred funds from MSGA’s bank account to the accounts of two companies of which Mr Tsingaris was a director, Marketing Solutions Group Pty Ltd (MSG) and IRM Digital Pty Ltd (IRM). It is alleged that the bank transfers were recorded in the books of MSGA as the purchase of plasma screens, satellite dishes, and GST input, but were transferred to MSG and IRM for unrelated purposes.

ASIC also alleges that Mr Tsingaris was managing corporations while disqualified. Mr Tsingaris will appear in the Melbourne Magistrates Court for a committal mention on 3 August 2006. No plea has been entered. The Commonwealth Director of Public Prosecutions is prosecuting the matter.

For further information contact: Allen Turton Deputy Executive Director Enforcement Telephone: 02 9911 2338 Mobile: 0411 549 236 Emma Forehan ASIC Media Unit Telephone: 03 9280 3354 Mobile: 0409 702 310 Page 1 of 1

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