Melbourne accountant Jason Dermot Cullen, 48, of Yarraville in Victoria, has been committed to stand trial on charges following a committal hearing before the Melbourne Magistrates’ Court.

Two charges were brought by ASIC following an investigation into NewSat Limited (NewSat), a company formerly listed on the Australian Securities Exchange.

ASIC alleges that on 18 January 2012 and 9 August 2012, Mr Cullen, engaged to provide services to NewSat Limited, authorised the making of two invoices for accounting services that were false or misleading contrary to section 1308(2) of the Corporations Act. ASIC alleges that those invoices caused NewSat to make payments amounting to $275,000 to a private company associated with both him and the company’s former chief executive officer, Mr Adrian Ballintine.　

Each of the charges carries a maximum penalty of five years' imprisonment.

Mr Cullen’s trial will be heard before the County Court of Victoria on a date to be fixed.

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

Background

NewSat was a satellite communications provider that was listed on the Australian Securities Exchange until 31 August 2015.

On 17 April 2015, receiver managers were appointed to NewSat. On 7 August 2015 the company entered into liquidation.

Editor's note:

On 24 September 2018, the County Court of Victoria ordered that the trial of the charges commence on 23 September 2019.

Editor's note 2:

On 23 July 2019, Mr Cullen was arraigned and the matter listed by the Country Court for a plea hearing on 23 September 2019.

Editor's note 3:

On 27 August 2019, the County Court re-listed the plea hearing for 14 February 2020.