Sydney-based Vibo Constructions boss disqualified

Michael Vincent Iannello, a Sydney-based building and construction specialist, was the subject of an Australian Securities and Investments Commission investigation that found he continued to act as general manager of Vibo Constructions despite declaring bankruptcy in 2010.

Bankruptcy disqualifies those from managing a company unless they obtain court permission or the bankruptcy ends.

He was convicted of managing Vibo Constructions Pty Ltd while disqualified, and given 100 hours of community service.

He pleaded guilty and was convicted earlier this month to one charge of managing a corporation while disqualified.

Vibo Constructions was placed into liquidation on 12 April 2011.