James Black, former chief financial officer of ABC Learning Centres, is appearing in Brisbane Magistrates court on charges relating to ABC's collapse. Source: The Courier-Mail
A FORMER chief financial officer of ABC Learning Centres has faced criminal charges relating to the collapsed childcare chain.
James Black, the former CFO, appeared in Brisbane Magistrates Court this morning on three charges following an investigation by the corporate watchdog.
Documents filed in court show the Australian Securities and Investments Commission has alleged he made available, or authorised or permitted, the presentation of false or misleading material to an auditor about matters affecting ABC in February 2007.
Mr Black, dressed in a dark suit, was granted bail this morning. He did not enter a plea and declined to comment outside court.
ASIC, in a statement, said it had alleged Mr Black "gave - or authorised the giving of - three engagement letters between three ABC-related companies and ABC Acquisitions Pty Ltd".
"The letters related to the purchase of three overseas companies by ABC in December 2006."
"Specifically, each letter contained false or misleading information about the terms of commission payments that Acquisitions was to receive."
ABC Learning, was a stock market darling which once ran 2300 centres across four countries. It collapsed in November 2008.
ABC Acquisitions was a separate entity not owned by ABC Learning.
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