This article is from the Australian Property Journal archive
FORMER Westpoint fundraiser Neil Burnard, who was refused entry to the United States after he tried to flee the country, has been found guilty of nine criminal charges.
Burnard was found guilty by a jury in the District Court of New South Wales on nine criminal charges following an Australian Securities and Investments Commission investigation.
He was found guilty under the Crimes Act of NSW of obtaining a financial advantage for various Westpoint Mezzanine companies by making or publishing a statement which he knew to be false in a material particular.
Burnard had made statements that he was a director of Kebbel Investment Bank, an entity associated with Westpoint director Richard Beck which did not exist because it was not a “bank”.
The Australian Prudential Regulatory Authority forced Beck to cease calling Kebbel a “bank” and was renamed Kebbel Funds Management.
The verdict arises from ASIC’s investigation into the affairs of Kebbel (NSW) Pty Ltd, now known as Palentia Pty Ltd, which formed part of a broader investigation into the collapse of the Westpoint Group of Companies.
Burnard pleaded not guilty to the charges on April 11 2008.
The convictions follow a two-week trial before Judge Charteris. A number of investors gave evidence at the trial.
Burnard was refused entry into the US in June 2006 after he tried to flee Australia despite telling ASIC he would be available to “speak to ASIC investigators” regarding the collapse of Westpoint.
Burnard was granted bail and is to be sentenced in the District Court on June 20 2008.
Australian Property Journal
