Former director of Crane Trucks R Us, Farmouz Farhaad Mohammed, is disqualified from managing corporations until 2026 after his recent jailing for fraud, the Australian Securities and Investments Commission (ASIC) reported.
Also known as Fred Mohammed, the Queensland-based company director was found guilty and convicted of three counts of dishonestly causing detriment to Crane Trucks R Us (ACN 128 496 597).
An ASIC investigation found that, in August 2015, on three separate occasions, Mohammed dishonestly withdrew a total of $256,000 from the company account about 10 weeks before it was placed in liquidation and was most likely insolvent.
At the time of its liquidation, the company had total liabilities of $6,266,394.69 owed to 198 creditors.
Mohammed appeared in the Queensland District Court in June, was found guilty and sentenced to…