This article is from the Australian Property Journal archive
QUEENSLAND property develop Lorenzo David Suarez, also known as Laurence Suarez, was convicted in the Brisbane Magistrates Court.
Suarez, property developer and private lending business operator based in Birkdale pleaded guilty to three charges brought by the Australian Securities and Investments Commission.
He was fined $5,000 for managing Sonik Design & Construction Pty Ltd and Jajoelta Pty Ltd while disqualified.
ASIC’s investigation found that Suarez acted as a director of the two companies despite being disqualified following fraud convictions in 2002.
Suarez is presently serving a jail sentence at Borallon Correction Centre in relation to the aforementioned frauds and is due to be released in April 2009.
Both Sonik Design & Construction Pty Ltd and Jajoelta Pty Ltd have gone into liquidation owing over $1 million to creditors. In August 2008, ASIC disqualified Suarez from managing corporations for five years due to his involvement in these failed companies.
Australian Property Journal
