The Federal Court of Australia has permanently disqualified former PW Kitt Co Pty Ltd sole director Larry Dawson from managing corporations after action by the Australian Securities and Investments Commission. The court found that Dawson breached his directors’ duties between 2019 and 2020 by allowing the company to be used in a scheme that defrauded Australian investors of approximately AUD 7 million in superannuation funds. Dawson established company bank accounts, facilitated transfers to cryptocurrency accounts that enabled investor funds to be dissipated, failed to oversee the company’s activities and benefited personally to some extent. The court found that overseas-based fraudsters could not have harmed investors without these breaches and imposed the permanent disqualification to protect the public and deter participation in similar schemes.
Australian Securities & Investments Commission2026-07-30
Australian Securities and Investments Commission secures permanent director disqualification over AUD 7 million superannuation fraud scheme
The Federal Court has permanently disqualified former PW Kitt sole director Larry Dawson from managing corporations following action by the Australian Securities and Investments Commission. Dawson breached his duties by enabling a scheme that defrauded Australian investors of approximately AUD 7 million in superannuation funds.