Media Release: WA (McCormack) - Bankrupt convicted of two counts of removing property

Monday, December 12, 2016

Michael James McCormack of Perth, Western Australia, was convicted in the Perth Magistrates Court on 21 November 2016, and sentenced for two counts of removing property within 12 months of going bankrupt.

Mr McCormack plead guilty to the charges, and was convicted and placed on a 12 month good behaviour bond of $3,000.

Mr McCormack filed for voluntary bankruptcy in January 2014 following a judgment against him in the Perth Magistrates Court for an amount of $80,050.01.

Prior to his bankruptcy, Mr McCormack withdrew over $80,000.00 in cash from an account in his name. Mr McCormack could not provide the Official Trustee with a sufficient explanation about how the funds were spent. Over $30,000.00 was removed within the 12 months prior to his bankruptcy.

This matter was referred by the Official Trustee in Bankruptcy and prosecuted by the Office of the Commonwealth Director of Public Prosecutions.