Media release: VIC (KOL) Former bankrupt convicted for travelling overseas without trustee’s permission and making false statement

Tuesday, April 4, 2017

Mr Serbulent (Bill) Kol was convicted on 30 March 2017 of charges of travelling overseas without the written permission of his bankruptcy trustee, and providing incomplete information in his income questionnaire.

Mr Kol became bankrupt on 9 March 2010 and was discharged by law on 5 December 2014.  During his bankruptcy period, Mr Kol travelled to Turkey for a two week holiday, and failed to obtain the written permission from his trustee to do so.

During his bankruptcy period, Mr Kol was required to complete income questionnaires to his trustee detailing how much money he had received during a contribution assessment period. Mr Kol understated his income earned and as a result, the trustee based the compulsory income contributions to his bankrupt estate on the understated income instead of the true amount earned by him.

Mr Kol pleaded not guilty and after a contested hearing was found guilty on both counts. A second charge of omitting a material particular from a statement relating to his examinable affairs was dismissed. Magistrate Metcalf convicted and fined Mr Kol a total of $3,000 and ordered he pay disbursement costs of $216.

Mr Kol had previously been prosecuted in March 2011 for failing to file a Statement of Affairs and four counts of travelling overseas without written permission of his trustee.

The matter was prosecuted in the Melbourne Magistrates Court by the Office of the Commonwealth Director of Public Prosecutions.