Former Sonray CEO sentenced to 5 years jail
Former Sonray Capital Markets chief executive officer Scott Kenneth Murray has been sentenced to 5 years jail by the Australian Securities and Investments Commission after pleading guilty to 10 charges of fraud.
ASIC found Murray guilty on six charges of false accounting involving fictitious deposits totalling $36,439,588 and USD$9,779,395.25, and false withdrawals totalling $7,800,923. ASIC also charged the former executive with two counts of theft totalling $2,256,500; one charge of obtaining a financial advantage by deception; and one charge of misleading an auditor concerning a capital injection of $5,200,000.
Murray will serve a minimum of 2 years and 6 months before he is eligible for parole, which took into account his early guilty plea and cooperation, ASIC stated.
The matter was prosecuted by the Commonwealth Director of Public Prosecutions.
ASIC's decision follows the 27 September conviction of former Sonray director Russell Johnson, who was arrested and charged with 24 offences. Johnson's case returns to the Melbourne Magistrates' Court on 15 December 2011, ASIC stated.
AUTHOR
Andrew Tsanadis
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