LAWFUEL – The Australia & New Zealand Legal Newswire – A former South Yarra clothing company director has been found guilty on three charges brought by the Australian Securities and Investments Commission (ASIC).
Mr Cedric Anthony, of Toorak, Victoria, appeared before the County Court of Victoria on 7 November 2007 where he was convicted on three counts of corruptly giving an inducement or reward following a three-week trial.
ASIC alleged Mr Anthony, as a director of Austasia Clothing Pty Ltd (in liquidation), received a number of unauthorised and undocumented payments from a former bank officer with ANZ between June 2004 and March 2005. At the time, Mr Anthony was an ANZ customer.
The Court heard Mr Anthony made payments to the bank employee, Mr Stephen Craig Jenvey. These payments consisted of $9,000 in cash paid to a TAB account held by Mr Jenvey, as well as a business class flight to Sri Lanka for Mr Jenvey valued at over $5,000.
The jury in the case was directed by his Honour Judge Kelly to find Mr Anthony not guilty of eleven theft charges.
Mr Anthony will be sentenced on Friday 16 November 2007. The matter was prosecuted by the Commonwealth Director of Public Prosecutions.
Background
In April 2007, Mr Jenvey, of Mooroolbark, Victoria, pleaded guilty to six counts of theft and three counts of corruptly receiving an inducement or reward and was sentenced by the County Court of Victoria to four years and three months imprisonment.
Mr Jenvey had been employed by ANZ since 1981. At the time of the thefts, he was a Trade Relationship Manager in the International Trade Services Delivery Section. He was dismissed from his employment on discovery of the theft.
Mr Jenvey admitted to stealing approximately $7.3 million between June 2004 and March 2005 by making unauthorised and unapproved payments to the customer from other customers’ trade facilities. The payments were not properly recorded and Mr Jenvey deliberately hid the true state of the payments from ANZ. Mr Jenvey did not have the authority to make the loans. Mr Jenvey also admitted he corruptly received money and other valuable considerations on three occasions as a reward from the customer. These rewards consisted of $9,000 cash, a holiday to Sri Lanka and clothing. None were disclosed to ANZ.
