ASIC

Darwin Accountant Receives Jail Sentence for Failing to Attend ASIC Examination

ASIC - DarwinMr William Desmond Fong, of Darwin, Northern Territory, has been convicted and sentenced to six weeks imprisonment after pleading guilty to failing to attend an ASIC examination.

The conviction follows an ASIC investigation concerning actions taken by Mr Fong during the period of his directorship of Fong & Partners (NT) Pty Ltd.  In the course of ASIC’s investigation, Mr Fong was required to appear at an ASIC examination on 3 October 2019 and offer reasonable assistance in connection with the investigation.  Mr Fong failed to attend the examination.

ASIC commenced its investigation after receiving a supplementary report by Stuart George Reid of Rodgers Reidy following his appointment as liquidator to another company, NT Welding Pty Ltd, for which Mr Fong acted as an accountant.

Judge Elisabeth Armitage noted that the offence was serious and that it significantly frustrated ASIC’s ability to make proper enquiries. Her Honour noted the numerous prior convictions of Mr Fong for similar kinds of offending and that specific deterrence was paramount in the circumstances.

Mr Fong appeared before the Darwin Magistrates Court on 19 June 2020 via audio visual link from the Darwin Correctional Centre, where he is currently serving a custodial sentence for an unrelated matter.

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