Perth businessman pleads guilty to managing a company while disqualified

Richard James Trainer, of Perth, WA, has been convicted of managing a corporation while disqualified following an ASIC investigation.

Mr Trainer was made bankrupt in May 2005, automatically prohibiting him from managing a corporation until the end of his bankruptcy.

ASIC found that between 3 March 2006 and 21 November 2006, Mr Trainer engaged in various acts of management including entering into contracts and making financial decisions on behalf of All Holdings Pty Ltd.

Mr Trainer pleaded guilty to the charge laid by ASIC in the Perth Magistrates' Court.

On 23 August 2012, Mr Trainer was convicted and sentenced to four months imprisonment. He was released upon entering into a recognisance in the sum of $2,000 and on the condition of being of good behaviour for a period of three years. Mr Trainer was also ordered to pay costs of $2,002.55. Mr Trainer remains an undischarged bankrupt until September 2013.

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