Post: Former Gold Coast director jailed for fraud

Mr Farmouz Farhaad Mohammed (also known as Fred Mohammed), of Hope Island, Queensland has been found guilty of three counts of fraud and sentenced to imprisonment.

Mr Mohammed was the former director of Crane Trucks R Us Pty Ltd ACN 128 496 597 (Crane Trucks R Us) which operated a wet hire, road-based logistics and lifting services business throughout Queensland, New South Wales and Victoria. The company was placed in liquidation on 6 November 2015.

An ASIC investigation found that, in August 2015, Mr Mohammed, on three separate occasions, dishonestly withdrew a total of $256,000 from the company account of Crane Trucks R Us. The withdrawal of the funds occurred around ten weeks before Crane Trucks R Us was placed in liquidation and was most likely insolvent.

At the time Crane Trucks R Us was placed in liquidation it had total liabilities of $6,266,394.69 owed to 198 creditors.

Mr Mohammed appeared in the Queensland District Court sitting at Ipswich between 8 and 11 June 2021. He was found guilty by jury and sentenced to two years and six months imprisonment on count one and twelve months imprisonment each on counts two and three, to be served concurrently.

Judge Lynch QC ordered that the term of imprisonment be suspended after serving six months, with a three-year operational period commencing on 11 June 2021, during which time Mr Mohammed must not commit another offence punishable by imprisonment.

As a consequence of this conviction, Mr Mohammed is automatically disqualified from managing corporations until 10 December 2026.

The matter was prosecuted by the Commonwealth Director of Public Prosecutions.

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