Director of Melbourne plumbing business pleads guilty to fraud

The Australian Securities and Investments Commission (ASIC) announced that Paul Joseph Hanson, a former director of Wida Plumbing Supplies Pty Ltd (Wida), has pleaded guilty to one count of fraud, following an ASIC investigation.

Mr Hanson, of Caroline Springs in Victoria, operated a plumbing business.

ASIC's investigation found that approximately eight months after Wida was placed in liquidation, Mr Hanson transferred $124,763.84 from a Wida overdraft bank facility held with Bendigo Bank to the personal bank account of a family member. Mr Hanson then arranged for the family member to withdraw the funds, which he used for his own personal use.

Mr Hanson appeared before the Melbourne Magistrates' Court on 7 July 2017 and pleaded guilty. He was released on bail to appear before the County Court of Victoria for sentencing on 8 November 2017.

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