NSW company director convicted of financial deception

Director received more than $28,000 in dishonest remuneration, regulator says

NSW company director convicted of financial deception


By Mina Martin

Corporate regulator ASIC has announced that Louise Angela Medley from Bondi Beach, NSW, has been found guilty and convicted on two counts of dishonestly obtaining financial advantage by deception.

Following Medley’s earlier plea of guilt, she was sentenced to an 18-month community corrections order on Nov. 13.

According to an ASIC investigation, Medley, the director and sole shareholder of Black Collections, engaged in deceptive practices between Dec. 16, 2016, and March 13, 2018, when she received $28,016.81 in dishonest remuneration for collecting on consumer credit debts despite knowing that Black Collections was operating fraudulently as a debt collector in Double Bay, NSW.

In a related case on June 17, 2021, Black Collections was convicted and fined $8,800 for unlicensed credit activity and $4,400 for falsely claiming to hold a license authorising the collection of consumer debts. At that time, Black Collections did not qualify for an exemption from the obligation to hold an Australian Credit Licence (ACL).

ASIC also found that Medley, on behalf of Black Collections, falsely asserted on Dec. 16, 2016, that the company held a Master CAPI license allowing it to collect on consumer credit, which was not the case.

The matters were prosecuted by the Commonwealth Director of Public Prosecutions.

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