The Australian Securities & Investments Commission reported that Mark Barnes, a NSW company director, appeared at the Downing Centre Local Court charged with two offences of dishonestly obtaining a financial advantage by deception and one offence of attempting to do so, following an ASIC investigation into alleged false-invoice financing. Between about 28 May 2018 and about 20 December 2019, Mr Barnes is alleged to have sold false invoices from Barnes Marketing Services Pty Ltd (In Liquidation) to Handley Advisory Partners Pty Ltd trading as FIFO Capital Metro NSW, a lender offering cash-flow solutions including advances against purchased invoices. The invoices purported to relate to services provided to the Sydney Symphony Orchestra and allegedly resulted in Mr Barnes obtaining AUD 1,318,979 and AUD 1,159,645, although no services had been rendered; services were provided to Opera Australia, but the invoices allegedly inflated the amounts. ASIC also alleges Mr Barnes generally repaid advances around the required repayment date but continued submitting further false invoices on a rolling basis, and attempted on about 13 January 2020 to obtain a further AUD 118,206 via another false invoice. The matter has been adjourned to 4 March 2025 for further mention and is being prosecuted by the Office of the Director of Public Prosecutions (Cth). ASIC said the charges were laid in December 2024 under section 192E(1)(b) of the Crimes Act 1900 (NSW), which carries a maximum penalty of 10 years’ imprisonment, and that its investigation followed a funded report from the liquidator, supported by ASIC funding from the Assetless Administration Fund.
Australian Securities & Investments Commission 2025-02-05
Australian Securities & Investments Commission investigation leads to NSW director charged over alleged false invoice funding worth AUD 1.32 million and AUD 1.16 million
ASIC has charged Mark Barnes, a New South Wales company director, with two counts of dishonestly obtaining a financial advantage by deception and one count of attempting to do so. The charges involve alleged false-invoice financing with Barnes Marketing Services Pty Ltd and Handley Advisory Partners Pty Ltd. Barnes allegedly sold false invoices for services to the Sydney Symphony Orchestra, gaining AUD 1,318,979 and AUD 1,159,645 without rendering services. The case, prosecuted by the Office of the Director of Public Prosecutions, is adjourned to 4 March 2025.