Former Legacy boss sentenced

Former Legacy Iron Ore managing director Sharon Kia Le Heng has been sentenced to three years' imprisonment after the corporate watchdog claimed she stole more than $725,000 from the exploration company.

Ms Heng was convicted and sentenced in the Perth District Court last week, with the imprisonment sentence being wholly suspended for two years.

She was the founding director and managing director of ASX-listed Legacy from April 2007 to October 2014.

The Australian Securities and Investments Commission alleged Ms Heng instigated 13 transfers from Legacy’s bank accounts to a Regency Infrastructure bank account between June 2012 and November 2013.

ASIC claimed Ms Heng hid the bank transfers from the Legacy board and accessed the funds transferred for her own benefit, stealing a total of $725,639.

On top of her prison sentence, Ms Heng has been disqualified from managing corporations for five years.

Charges against former Legacy Iron Ore accountant Karen Kwan were dropped in October last year.

The court sentence followed an investigation by ASIC into the Perth-based ASX-listed mining company.