Media and information releases

04-135 NSW Businessman sentenced to 18 months jail

Wednesday 12 May 2004

Mr Richard Charles Salisbury, of Canada Bay, New South Wales, was today sentenced in the Sydney District Court to 18 months imprisonment, to serve a minimum of six months, on charges brought by the Australian Securities and Investments Commission (ASIC).

Mr Salisbury was sentenced to18 months imprisonment with a non-parole period of 6 months, after which he will be released on a good behaviour bond for 12 months. A jury found Mr Salisbury guilty of six counts of lodging false documents with ASIC and two counts of attempted deception on banks.

Mr Salisbury had earlier pleaded not guilty to the charges.

ASIC's investigation found that Mr Salisbury lodged applications with ASIC to reinstate two deregistered companies, Tidiru Pty Ltd and Ausbanque Pty Ltd. The applications falsely stated that Mr Salisbury and his wife, Ms Eunice Salisbury, had been validly appointed directors of the companies.

Mr Salisbury then made applications, on behalf of the companies, to the Commonwealth Bank of Australia and National Australia Bank in an attempt to obtain $74,146.85 in unclaimed moneys held on behalf of the companies.

'ASIC has in place a range of measures for both prevention and detection of fraudulent activity. We will take action against people seeking unauthorised access to, and use of, company records that must be kept by ASIC under the Corporations Act 2001', ASIC Deputy Executive Director of Enforcement, Mr Allen Turton said.

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

Updated: 12/05/2004