Media Release: TAS (English) - Former bankrupt convicted for concealing financial gain during bankruptcy

Tuesday, May 31, 2016

Ms English became bankrupt on 22 March 2012.

On 14 July 2014 and 3 September 2014, Ms English received $50,000 and $87,581.83 respectively into her bank account, paid from the estate of her late father.

Ms English subsequently deposited the inheritance into two term deposit accounts.

Ms English concealed the two deposits, totalling $137,581.83, from her trustee.

On 6 February 2015, Ms English’s bankruptcy was annulled as all debts had been paid in full.

Ms English pleaded guilty and was convicted on both counts. She was ordered to pay a fine of $1,000 and court costs of $78.

Magistrate Jago found that Ms English had committed the offences during a time of emotional crisis and that there were strong personal mitigating factors to be taken into account.

She acknowledged Ms English’s argument that while she was aware of her obligation to notify her trustee, she was in a state of uncertainty about what she would eventually do with the inheritance money.

Magistrate Jago found that Ms English’s actions were not sophisticated. Ms English had not spent the money and creditors were eventually paid in full.

She also noted that while this type of offence was difficult to detect, general deterrence was important and the system relied on bankrupt’s honesty to protect creditor’s interests.

The matter was prosecuted by the Office of the Commonwealth Director of Public Prosecutions.