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Former NSW director convicted of making false statement

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Mr Zinan Ou, 44, of Beverley Park in New South Wales, has pleaded guilty to making a false or misleading statement to ASIC.

Mr Ou was a former director of A-One Metal Services Pty Ltd (Deregistered) ACN 120 156 318 (A-One) which operated a metal and glass balustrading business.

An ASIC investigation found that on or around 7 May 2018, Mr Ou lodged a document with ASIC to voluntarily deregister A-One. In the document Mr Ou falsely or misleadingly claimed that A-One did not have any outstanding liabilities. At the time of lodging the document, A-One did have outstanding liabilities owed to creditors.

Mr Ou was convicted and ordered to pay a fine of $2,500. He is also disqualified from managing corporations for five years until 17 November 2025.

The matter was prosecuted by the Commonwealth Director of Public Prosecutions.

Background

On 17 November 2020, Mr Ou appeared in the Downing Centre Local Court and pleaded guilty to making false or misleading statements to ASIC contrary to s1308(2) of the Corporations Act 2001.

At the time of the conduct, the maximum penalty in relation to an offence against section 1308(2) of the Corporations Act (Cth) was 200 penalty units and/or five years’ imprisonment or both.

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Regulator Information

Abbreviation: ASIC
Jurisdiction: Australia

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