Regulatory Alerts2025-11-21
ASIC Charges Shadow Director with $8.3m Debt Factoring Fraud Involving Bunnings Warehouse
ASIC has charged Brent Young, a shadow director of HWT Group Australia Pty Ltd, with fraud and managing a corporation while disqualified. The regulator alleges Young created over 10,000 fraudulent invoices for Bunnings Warehouse to secure $8.3 million in debt factoring payments between 2020 and 2023. Young, who was bankrupt and legally disqualified at the time, faces maximum penalties of 20 years for fraud and 5 years for the disqualification offense.
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