Tassie reseller escapes the slammer

Tassie reseller escapes the slammer

What began in the Burnie Magistrates Court in 1997 as a case against Leon Gregory Kaine, has turned into a major saga.

Having recently served an eight month sentence after being convicted for defrauding creditors, Kaine has again faced court last week.

Kaine pleaded guilty to three charges brought about by the Australian Securities and Investments Commission (ASIC).

According to ASIC representatives, the charges alleged that Kaine made false or misleading statements about a forged deposit slip shown to him during a previous ASIC investigation.

Justice Slicer awarded Kaine with a three month suspended jail sentence and placed him on a good behaviour bond for a further two years.

In October 1999, Kaine was found guilty and sentenced to eight months jail for his role in the falsification of a number of bank deposit forms. These he used to hoodwink interstate distributors into supplying him with computer goods.

Kaine has been involved with two companies, Tascom Holdings, and North West Computers and Software.

Kaine founded North West Computers and Software on the North West coast of Tasmania in June 1994, shortly after becoming bankrupt. The original charges against him stem from his involvement with North West.

ASIC investigators' suspicions were aroused when they received a complaint from an interstate supplier.

Kaine later founded Tascom Holdings, which traded under the name of Aware Technologies.

He also stands accused of knowingly defrauding Tascom creditors and customers of more than $80,000 between November 1997 and May 1998.

Simon Dwyer, acting regional ASIC commissioner for Tasmania, is encouraging channel players to contact ASIC if they have any suspicions regarding registered companies.

"If businesses have any concerns about companies, or their officers engaging in conduct that appears to be of a fraudulent or suspicious nature, then they should immediately contact the Australian securities hotline," Dwyer said.

ASIC Hotline: 1300 300 630

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