THE judge sentencing former Kleenmaid director Bradley Wendell Young says “Blind Freddy could see this company was insolvent”.
“I had no difficulty whatsoever concluding your client was, at all relevant times, aware of the true financial position,” Judge Brad Farr said.
“To suggest otherwise flies in the face of the evidence.”
Young, 49, was found guilty last Friday after a trial of defrauding Westpac through a $13-million loan and 17 offences of operating Kleenmaid while it was insolvent.
Judge Farr is expected to sentence Young shortly for his dishonesty in the lead-up to Kleenmaid’s collapse.
Kleenmaid owed Westpac Bank about $28 million when it collapsed in April 2009.
The focus of the ASIC investig…
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