Mr Joshua David Fuoco has been convicted of one count of managing a corporation whilst disqualified after pleading guilty in the Melbourne Magistrates Court.
Mr Fuoco, who pleaded guilty, was convicted and fined the sum of $6,000.
Mr Fuoco was previously disqualified by ASIC in 2016 from managing corporations for two years and six months, after two companies of which he was a director, FP Investment Parties Pty Ltd and Equilibrium FS Pty Ltd, were wound up.
Following its investigation, ASIC alleged that for over a year, Mr Fuoco was involved in the running of Financial Circle Pty Ltd, a company that provided small loans. His involvement included:
– making key decisions on consumer loan arrangements on behalf of Financial Circle;
– giving instructions to other employees and officers of the company, including its directors; and
– dealing with staff, wages and invoices, telemarketing scripts, website content and the sale of client books.
The matter was prosecuted by the Commonwealth Director of Public Prosecutions after a brief and referral from ASIC.
