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A Sydney man jailed for 18 months in December 2004 on contempt charges relating to early release superannuation has again been committed for sentencing on six further charges.
The man, , also known as , was committed for sentencing on charges relating to fraudulent withdrawals on behalf of six clients of superannuation savings totalling $415,636.09, with the offences alleged to have been committed between October 2003 and June 2004.
The Australian Securities and Investments Commission (ASIC) alleged that Michalik submitted documents to superannuation companies falsely stating that his clients were rolling their superannuation savings into another superannuation fund.
It alleged that Michalik then intercepted the cheques, deposited them into bank accounts he controlled, retaining approximately 30 per cent, and then transferred the rest into bank accounts nominated by the clients.
Michalik and his son were jailed for 18 months and fined a total of $200,000 in the NSW Supreme Court following a finding of contempt of court.
AUTHOR
Mike Taylor
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