Offences:
- 2 x disposing of property within 12 months before a petition has been filed with intent to defraud creditors
- 1 x disposing of property after a petition has been filed with intent to defraud creditors
- 1 x knowingly make a false declaration in a Statement of Affairs in bankruptcy
- 1 x failing to keep books of account within 5 years preceding bankruptcy
- 1 x failing to keep books during bankruptcy.
Matthew Jason Sward, 38, was sentenced this week in the Southport District Court to 2.5 years imprisonment on each of three indictable offences, and six months imprisonment on each of three summary offences, to be served concurrently.
Mr Sward was released on recognisance of $2,000 after pleading guilty to the 6 offences under the Bankruptcy Act 1966 (Cth). His conduct involved the disposal of assets both before and after his bankruptcy petition, false declarations, and failures to keep required financial records.
Judge Holliday KC also ordered Mr Sward to pay $6,151 in restitution to American Express by 11 May 2026. A pecuniary penalty of $51,999 was imposed for each of the three indictable offences, totalling $155,999, to be paid in monthly instalments until fully discharged.
At the time of the offending, Mr Sward was subject to a good behaviour bond. The breach was proven and he was fined $1,500.
In the three months leading up to his bankruptcy, Mr Sward disposed of $119,500 across six transactions with intent to defraud creditors, despite owing significant debts. Approximately one year into his bankruptcy, he sold a Porsche for $70,000 that he had purchased while bankrupt and failed to disclose the sale to his bankruptcy trustee. He also made false declarations in his Statement of Affairs and failed to keep required business and personal records, further obstructing the work of the registered trustee.
The court heard, creditors were denied timely access to money and remained out of pocket for around 18 months.
Judge Holliday KC said she hoped that Mr Sward understood the seriousness of the offences that he committed, noting that the decision not to impose actual custody was “very borderline”. She also warned that any failure to make payments on time could result in Mr Sward being brought back before the court.
Inspector-General in Bankruptcy and Australian Financial Security Authority (AFSA) Chief Executive, Tim Beresford, said:
“This sentence reflects the seriousness of calculated conduct that undermines creditor outcomes and confidence in Australia’s personal insolvency system. AFSA will continue to prioritise harms‑based enforcement where deliberate deception and misuse of the system are evident.”
This matter was prosecuted by the Office of the Director of Public Prosecutions (Cth) (CDPP) following an investigation and referral by the Australian Financial Security Authority.
