Former S Central chief executive, Peter Mavridis, has appeared before Melbourne Magistrates Court facing 35 charges following an ASIC investigation.
The ASIC investigation has led to 24 charges of obtaining financial advantage by deception, 10 charges of false accounting and one charge of dishonest use of position as a director.
ASIC's investigation followed the collapse of the S Central Group of companies, which provided information technology services to customers in Victoria, New South Wales and Queensland.
ASIC alleges that Mr Mavridis, 42, who was the chief executive officer of the S Central Group, either directly or through his financial controller, submitted duplicated and falsely inflated invoices to National Australia Bank (NAB) in order to secure credit in excess of $3 million for companies within the group.
ASIC also alleges that Mr Mavridis falsified other documents that were required by NAB in support of the false invoices that were submitted.
Mr Mavridis has also been charged with dishonestly using his position as a director by allegedly using $20,000, held on trust for the NAB, to clear a personal credit card debt.
ASIC alleges the offences took place between January and October 2009.
The S Central Group ceased trading in October 2009, with liquidators appointed to various companies within the group.
The matter, which is being prosecuted by the Commonwealth Director of Public Prosecutions was adjourned until 10 June 2014.
The maximum penalty for the charges of obtaining financial advantage by deception is 10 years imprisonment.
For the charges of false accounting, the maximum penalty is also 10 years imprisonment.
While, for the charge of dishonestly using his position as a director, the maximum penalty is $220,000 or 5 years imprisonment; or both.
