Louis Farrugia of Hoppers Crossing, Victoria has pleaded guilty to making a false or misleading statement to ASIC.

Mr Farrugia, then the sole director of Auto Way Car Sales Pty Ltd ACN 080 481 803 (Deregistered) (Auto Way), lodged Form 6010 with ASIC to voluntarily deregister Auto Way on 16 January 2018.

In the form, Mr Farrugia made a false or misleading statement by stating Auto Way was not a party to legal proceedings. However, at the time of lodging the form with ASIC, Auto Way was involved in ongoing legal proceedings with a former customer.

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

Background

Mr Farrugia has been charged with breaching s1308(2) of the Corporations Act 2001, which carries has a maximum of 60 penalty units or imprisonment for 12 months, or both.

Mr Farrugia appeared in Werribee Magistrates Court on 9 November 2020. The matter has been adjourned to 23 November 2020 for a contested hearing.

Editor’s note

Mr Farrugia pleaded guilty to making a false statement to ASIC on 23 November 2020 and was placed on a s19B bond requiring him to be of good behaviour for two years, subject to a recognizance of $2,000.