On 14 February 2020, Mr Jason Dermot Cullen, pleaded guilty in the County Court of Victoria to two counts of authorising the making of a false or misleading document required by or for the purposes of the Corporations Act.

An ASIC investigation found that on 18 January 2012 and 9 August 2012, Mr Cullen, an accountant engaged to provide services to NewSat Limited (NewSat), authorised the making of two invoices for accounting services that were false or misleading contrary to section 1308(2) of the Corporations Act. Those invoices caused NewSat to make payments to a private company associated with the company’s former chief executive officer, Mr Adrian Ballintine.

The matter has been adjourned for sentencing on a date yet to be set in the County Court of Victoria.

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

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.