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Sounds fortunate not to be behind barsFpenner wrote:Salvatore ‘Sam’ Sgherza was on Tuesday convicted and fined in the Adelaide Magistrates Court for breaching bankruptcy laws after a lengthy investigation into his conduct by the Australian Financial Security Authority.
Federal prosecutors had charged Sgherza, 56, who was head of the Sgherza Group of Companies, in June 2016 with dozens of criminal charges.
Sgherza pleaded guilty in June to four revised criminal charges including withdrawing $274,000 from accounts within a year of bankruptcy, contracting $40,803 in debts knowing he could not repay the money, signing a false declaration on bankruptcy form and failing to disclose information to the trustee of his bankrupt estate.
Each count carries a maximum year in jail or $6600 fine.
Magistrate David McLeod convicted Sgherza on all four counts and fined him $10,000 citing his lack of prior offending, his good character, co-operation with authorities, age and early guilty pleas.
“While fraud is not a factor your offending, nevertheless impeded the administration of your bankruptcy and prevented the distribution of resources in an orderly fashion according to bankruptcy rules,” he said.
“Defence counsel explained at the pressures you were under at the time, particularly from your creditors, some of whom were loan sharks and your concern for you and your family.
“It is true you built up your construction empire such that you were able to live a lavish lifestyle with a big house and expensive … cars but you did not ultimately benefit from them under bankruptcy,
“While you benefited from transactions prior to your bankruptcy it was during a time of significant stress and pressure impacting otherwise good judgment.”
The court had heard in sentencing submissions that Sgherza, who declared bankruptcy on August 30, 2012, had sourced high-interest loans from bikies who had threatened him and his family if he revealed their identity.
Federal prosecutors, had requested a prison sentence.
Mr McLeod said Sgherza’s lawyers had submitted that he had not been in trouble before, had won “numerous accolades” from his industry and was “unfamiliar” with how to deal with his problems.
Sgherza declined to comment on today’s verdict. His lawyer Andrew Moffa said “it speaks for itself.”
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Had my fill of "majority now get it wrong, therefore the new grammatical rule"
Is it really swearing though? I mean, if they literally fucked a house, you just gotta use the word that fits.
