Mr Alan Jeffrey George of Bayview, New South Wales, was convicted and sentenced on 21 November 2016 for disposing of property within one month prior to becoming bankrupt, with intent to defraud his creditors.
Mr George became bankrupt on 13 October 2011 by order of the Federal Magistrates Court.
On 14 September 2011, Mr George received a cheque for the sum of $299,146.22 as an initial distribution from his late father’s deceased estate.
Mr George endorsed the cheque and the funds were paid to his wife.
At the time, Mr George was aware that a creditor had obtained a judgment against him to pay the creditor $321,833.13.
Mr George pleaded guilty to the offence at the Sydney Downing Centre District Court.
He was convicted by Judge Syme to 6 months imprisonment and released on recognizance to be of good behaviour for two years.
The matter was prosecuted by the Office of the Commonwealth Director of Public Prosecution on behalf of the Australian Financial Security Authority.