Monday 23rd November 2015 - 11:51 am

Chef cooks the books

by Alan Thornhill

A Sydney chef bas been caught cooking the books.


Her crime was exposed by the corporate watchdog, the Australian Securities and Investments Commission.


In a statement today ASIC said:“Sydney-based chef Nicole Annette McIlwaine has been convicted of dishonestly using her position as director with the intention of causing detriment to a company.”

It added:”An ASIC investigation found that Ms McIlwaine dishonestly obtained $62,151.68 from the sale of a leasehold held by her company Stockmarket Cafe Pty Limited, at a time when she had stated she was aware that the company would be liquidated and that the money should be used to pay company creditors.



“ As a result no funds were recovered by the liquidator and no funds were returned to the principal creditor, the Australian Tax Office.

“Ms McIlwaine was convicted ex-parte of the offence and on 17 November 2015 the conviction was confirmed and she was sentenced to a $500 two year good behaviour bond.

“As a result of the conviction Ms McIlwaine is automatically disqualified from managing corporations until 16 November 2020.
‘The Court found that Ms McIlwaine had quite clearly dishonestly obtained and spent company money,” ASIC Commissioner Greg Tanzer said.

‘The action against her shows how serious ASIC is about cracking down on this type of behaviour from company directors.”
he matter was prosecuted by the Commonwealth Director of Public Prosecutions.

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Alan Thornhill

Alan Thornhill is a parliamentary press gallery journalist.
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