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Bankruptcy Insolvency

Twelve month good behaviour bond for offence against the Bankruptcy Act

This media release was sourced from Australian Financial Security Authority.

Media release: NSW (ROSENBERG)

Mr Gary Steven Rosenberg of St Ives, New South Wales, was sentenced on 21 February 2017 after pleading guilty to an offence of materially contributing to his insolvency by gambling.

Mr Rosenberg filed for voluntary bankruptcy in June 2014.

Between June 2012 and June 2014, Mr Rosenberg gambled at various casinos in Australia and New Zealand and participated in online gambling. As a result of these activities he lost over $1.3 million dollars.

Mr Rosenberg entered a plea of guilty at the Sydney Downing Centre Local Court.

Magistrate Atkinson found the offence proven and commented that there needs to be a deterrent.  Mr Rosenberg was released on a good behaviour bond for twelve months without conviction.

The matter was prosecuted by the Office of the Commonwealth Director of Public Prosecution on behalf of the Australian Financial Security Authority.

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BCR team
The BCR Advisory team are a national represented firm with its main office located in Sydney. It is a boutique corporate advisory, recovery and insolvency firm that specialise in the SME market. The team’s reputation is built on their extensive experience within the industry as well as their fresh and innovative approach to problem solving for distressed business owners. Let us know what you thought about this article by leaving a comment below. Alternatively, you can get in touch with the BCR Advisory through our contact page.

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