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17-445MR Melbourne accountant charged

Tuesday 19 December 2017
ASIC Media Release

Following an ASIC investigation, Melbourne accountant Mr Jason Dermot Cullen, 47, of Yarraville, appeared before the Magistrates' Court of Victoria charged with two counts of authorising the making of a false or misleading document required under the Corporations Act. 

The charges were brought by ASIC following an investigation into NewSat Limited (NewSat), a company formerly listed on the Australian Securities Exchange 
ASIC alleges that on 18 January 2012 and 9 August 2012, Mr Cullen, engaged to provide services to NewSat Limited, authorised the making of two invoices for accounting services that were false or misleading contrary to section 1308(2) of the Corporations Act. ASIC alleges that those invoices caused NewSat to make payments amounting to $275,000 to a private company associated with the company’s former chief executive officer, Mr Adrian Ballintine. 

Each of the charges carries a maximum penalty of five years' imprisonment. 
The charges have been listed for a mention hearing to be held on 6 March 2018. 
The matter is being prosecuted by the Commonwealth Director of Public Prosecutions. 



Background 
NewSat was a satellite communications provider that was listed on the Australian Securities Exchange until 31 August 2015.
 
On 17 April 2015, receiver managers were appointed to NewSat. On 7 August 2015 the company entered into liquidation.