Between 7 September 2012 and 9 July 2014 Mr Armistead, who was the Chief Financial Officer of Calvary Health Care ACT Ltd, caused twenty-eight false entries to be made in the financial records of Calvary Health Care ACT Ltd to incorrectly state revenue for the 2012-2013 and 2013-2014 financial years. Between 30 July 2014 and 1 August 2014 Mr Armistead gave information to the company auditor relating to the affairs of Calvary Health Care ACT Ltd that he knew to be false.
Primarily as a result of the false entries, Calvary Health Care ACT Ltd reported earnings of $1.925 million in the 30 June 2014 financial report. Once the entries were readjusted to reflect the true financial position, Calvary Health Care ACT Ltd reported a loss of $9.451 million.
Mr Armistead was sentenced on 13 February 2019. In relation to causing the false entries, Mr Armistead was sentenced to a $1000 good behaviour bond for two years. He was also fined $3000.
He was sentenced to a $1000 good behaviour for two years and fined $2000 in relation to the charges of providing false information to the company auditor.
As a result of his conviction, Mr Armistead is automatically disqualified from managing companies for five years.
ASIC’s investigation followed the lodgement of a report by the company auditor.
The matter was prosecuted by the Commonwealth Director of Public Prosecutions.