Media Release: NSW (Mosesian) – Bankrupt convicted after transferring money to family and friends

Thursday, September 6, 2018

Mr Moses Mosesian of Horningsea Park, NSW, pleaded guilty to a range of bankruptcy offences and was sentenced to 180 hours of community service, after he disposed of a sum of money that could have been used to repay his debts.

Mr Mosesian sold a property in December 2015 and received over $90,000 which was deposited into one of his bank accounts. He then withdrew or transferred this money to various family members and friends, before filing for bankruptcy in January 2016.

Mr Mosesian withheld information during his bankruptcy process, including the true value of the property he had sold, the amount of money received, and the bank account the money had been paid into. This is information that is crucial to the bankruptcy process, and if it is not provided to a trustee, this is a crime under The Bankruptcy Act 1966.

Even after these details were queried by authorities on eight separate occasions, Mr Mosesian failed to provide the correct information, stating that he was a heavy gambler and could not remember.

“Managing a bankruptcy is a complicated matter, and it is crucial that all parties are honest about their financial affairs,” said Paul Shaw, National Manager of Regulation and Enforcement with the Australian Financial Security Authority (AFSA).

“Most people in bankruptcy do the right thing, but AFSA has no tolerance for those who intentionally misuse the system.”

Mr Mosesian was sentenced in the Parramatta Local Court on 14 August 2018 to 180 hours of community service.

The matter was prosecuted by the Commonwealth Director of Public Prosecutions on behalf of the Australian Financial Security Authority.

Key facts:

  • On 14 August 2018, Mr Moses Mosesian pleaded guilty in the Parramatta Local Court to four counts including making a false declaration in his Statement of Affairs, disposing of funds and for failing to disclose information to the Official Trustee.
  • On 7 December 2015 Mr Mosesian sold a property and received $90,808.59. Mr Mosesian then distributed those funds to various family members and friends.
  • On 7 January 2016 Mr Mosesian then filed for Bankruptcy.
  • When he completed his Statement of Affairs Mr Mosesian did not supply the details of the account that the $90,808.59 was paid into, he provided false details of the value of the property and also the amount he received.
  • Mr Mosesian was charged with four counts including making a false declaration in his Statement of Affairs, disposing of funds and for failing to disclose information to the Official Trustee.