Charges against former Legacy accountant dropped

Charges against former Legacy Iron Ore company accountant Karen Kwan, over allegations of stolen money totalling more than $750,000, have been withdrawn.

Ms Kwan and former Legacy Iron Ore managing director Sharon Kia Le Heng were charged with 13 counts of stealing in December 2020.

The Australian Securities and Investments Commission announced today that the Commonwealth Director of Public Prosecutions (CDPP) had conducted a further review of the matter and determined the charges against Ms Kwan be discontinued.

The CDPP withdrew the charges during a hearing at Perth Magistrates Court on Friday.

ASIC previously alleged Ms Heng and Ms Kwan organised 13 electronic transfers from Legacy’s bank accounts to Regency Infrastructure, totalling $725,639 over 18 months.

The corporate watchdog also alleged there was no legitimate basis for the payments to Regency Infrastructure, which was controlled by Ms Heng.

The incidents allegedly occurred between June 2012 and November 2013.

Ms Heng pleaded guilty at the Perth Magistrates Court in July and is next due to appear at the District Court of WA for sentencing in February next year.

The charges followed an ASIC investigation into the Perth-based ASX-listed mining company.