Bankrupt failed to declare property sale proceeds pocketed before bankruptcy

Bankrupt failed to declare property sale proceeds pocketed before bankruptcy
Bankrupt failed to declare property sale proceeds pocketed before bankruptcy

Ian Romi, also known as Naim Rahimi, has been placed him on a good behaviour bond for two years after pleading guilty to the disposal of property sale funds prior to bankruptcy.

He pleased gulf to making a false declaration in his bankruptcy Statement of Affairs.

In July 2014, Mr Romi received $30,000 as a result of a property settlement.

Within two weeks he had withdrawn $24,000 in cash from his account, using $10,000 for a holiday and gambling the balance at a casino.

This money should have been used to pay his creditors, the Australian Financial Security Authority advised.

Rahimi was sentenced on 22 November 2017 at the Brisbane Magistrates Court. 

On 28 July 2014, Mr Romi filed for voluntary bankruptcy with debts in excess of $113,000.

He failed to disclose in his Statement of Affairs that he had sold a house in 2013, that he had made a profit in relation to the sale of another house and that he had transferred ownership of motor vehicles prior to bankruptcy.

In an interview with AFSA investigators, Mr Romi admitted he received the $30,000 prior to bankruptcy and just ‘blew it.’

Magistrate Quinn convicted Mr Romi and placed him on a good behaviour bond for two years. In sentencing, the Magistrate considered Mr Romi’s early plea which indicated his remorse, his cooperation and the fact that he had no previous convictions.

The matter was prosecuted by the Office of the Commonwealth Director of Public Prosecutions on behalf of the Australian Financial Security Authority.

Tags: 
Property Settlement Bankruptcies

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