Former Wintech Group managing director Kim Wong remained in custody despite being granted conditional bail at the Melbourne Magistrates Court yesterday.
Wong was granted bail subject to a surety of $100,000 and on the basis that he report twice a week to Kew Police Station, does not attend international points of departure and surrenders his passport.
He faced nine counts of contravening the Corporations Act (2001).
The Australian Securities and Investment Commission (ASIC) alleged that Wong engaged in conduct that resulted in the falsification of the former ASX-listed computer supplier's books in early 2009.
ASIC alleged that he caused false share transfer forms to be created and authorised or permitted false or misleading information to be sent to to the ASX.
The more severe of the charges carried a maximum penalty of $22,000, imprisonment for five years or both.
Wong resigned from his managing director post last July after receivers were appointed in August, 2009.
The matter was set down for a committal mention hearing on May 23.
Timeline
October 3, 2005 to April, 17 2009 Wintech's securities suspended from trading.
July 8, 2008 to April 15, 2009 Wintech raised money through the issue of three prospectuses.
April 17, 2009 ASX reinstated Wintech's securities to official quotation.
July 30, 2009 ASX imposed a trading halt in relation to Wintech's securities following the appointment of a receiver and manager to Magnafield Technology Distribution Pty Ltd, a wholly owned subsidiary of Wintech.
Today Wintech's securities remain suspended from trading.
source: ASIC
-1.jpg&w=100&c=1&s=0)
.png&w=100&c=1&s=0)
