ASIC has disqualified Sandro Di Donato from managing corporations for four years following his role as a director of five failed companies including Bill Express.
ASIC found that the companies, which were placed into liquidation in 2008, owed over $6 million in debts. Liquidators reported that creditors would receive less than 50 cents in the dollar.
Di Donato has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.
Further, Sandro Di Donato's cousin, Enzo Di Donato was committed to stand trial in the County Court of Victoria on three criminal charges of providing false or misleading information to ASIC.
Enzo Di Donato was the sole director and secretary of 3D Salesforce which was one of a network of companies that operated from the same premises as Bill Express. He was conditionally bailed to appear again on 14 April in the County Court of Victoria.
The charges each carry a maximum penalty of two years imprisonment, an $11,000 fine, or both.
Copyright © CRN Australia. All rights reserved.
Issue: 334 | December 2014
Access CRN's extensive online resources including; email bulletins, community discussions and unique online news.
Processing registration... Please wait.
This process can take up to a minute to complete.
A confirmation email has been sent to your email address - SUPPLIED GOES EMAIL HERE. Please click on the link in the email to verify your email address. You need to verify your email before you can log on to the CRN website or start posting comments on articles.
If you do not receive your confirmation email within the next few minutes, it may be because the email has been captured by a junk mail filter. Please ensure you add the domain '@crn.com.au' to your white-listed senders.