Former NewSat director to stand trial
- 24 September, 2018 11:49
The former director of satellite communications provider, NewSat will stand trial after three charges were brought against him by the Australian Securities and Investments Commission (ASIC).
ASIC alleges that Adrian Ballintine has, on three occasions, authorised the making of three invoices that were false or misleading.
The invoices caused NewSat to make payments amounting to $357,000 to a private company associated with Ballintine between January and September 2012, ASIC alleges.
Each charge faced by Ballintine has a maximum penalty of five years.
The trial has no set date yet, but the case will be heard before the Melbourne Magistrates Court.
ASIC said on 21 December it had brought the charges against the telco's former CEO, Adrian Ballintine, following an investigation into NewSat Limited.
Previously listed on the Australian Securities Exchange (ASX), NewSat was a satellite communications provider based in Victoria, which delivered internet, voice, data and video communications.
In April 2015 NewSat was placed under administration with the company de-listing in August 2015 as it entered liquidation.
In July 2015, global satellite telecommunications service provider, SpeedCast International, acquired the assets of the teleport and satellite services business of NewSat from its receivers.
Under the agreement, the assets included the land and buildings at NewSat’s teleport facilities in Adelaide and Perth, associated plant and equipment, as well as most of the customer and supplier contracts.
NewSat’s customer base was composed of a reseller network, blue chip enterprise customers and government customers.
ARN was unable to reach Ballintine.