On 4 December 2020, Former Legacy Iron Ore Limited (Legacy) Managing Director, Sharon Kia Le Heng and former Legacy accountant, Karen Kwan appeared in the Perth Magistrates Court each charged on 13 counts of stealing, following an ASIC investigation.
ASIC alleges that between June 2012 and November 2013, Ms Heng and Ms Kwan stole approximately $725,000 from Legacy, which is an ASX-listed company.
ASIC alleges that Ms Heng and Ms Kwan made 13 electronic funds transfers from Legacy’s bank account to the bank account of Regency Infrastructure Pty Ltd, a company controlled by Ms Heng, in circumstances where there was no legitimate basis for these payments.
The matter was adjourned to 26 March 2021. Ms Heng and Ms Kwan were each granted bail, with conditions including that they do not travel overseas and surrender all passports to the Court.
The charges fall under Criminal Code 1914 (WA). The matter is being prosecuted by the Commonwealth Director of Public Prosecutions after a referral from ASIC.