The Australian Securities and Investments Commission (ASIC) has informed the public that it has charged Mr Farmouz Farhaad Mohammed, who is also known as Fred Mohammed, of Hope Island, Queensland with three counts of fraud under the Criminal Code (Queensland).
Mr Mohammed appeared before the Richlands Magistrates Court on 12 March 2018.
ASIC alleges that in August 2015 Mr Mohammed dishonestly caused a detriment to Crane Trucks R Us Pty Ltd ACN 128 496 597 (Crane Trucks R Us) by unlawfully withdrawing funds belonging to the company on three separate occasions and using it for purposes unrelated to the company.
The charges were brought against Mr Mohammed following an ASIC investigation into his conduct as the director of Crane Trucks R Us. ASIC was assisted in the investigation by Michael Dullaway of Pearce & Heers Insolvency Accountants. Michael Dullaway and Mark Pearce were appointed as joint and several Liquidators of Crane Trucks R Us on 6 November 2015.
At the time of making the withdrawals, Mr Mohammed was the sole director of Crane Trucks R Us.
Mr Mohammed did not enter a plea.
The matter was adjourned for further mention. Mr Mohammed has entered into bail to appear at the Ipswich Magistrates Court on 22 March 2018.
The Commonwealth Director of Public Prosecutions is prosecuting the matter.
Background
Mr Mohammed has been charged with three counts of fraud under section 408C(1)(e) of the Criminal Code (Queensland) 1899.