Former Perth company director Peter Hickey has been convicted of three counts of stealing more than $200,000, after using investors’ money to pay off personal debts, including his wife’s credit card.
Mr Hickey was convicted in the Perth District Court late last week.
The Australian Securities and Investments Commission alleged Mr Hickey stole $230,000 of investors’ funds while a director of property acquisition firm Cape Bonbon Pty Ltd, between April 14 and July 8, 2005.
ASIC alleged Mr Hickey used the money to pay for personal expenses, including mortgages and credit cards.
Investors have not received any return for their investment.
Mr Hickey will be sentenced in the Perth District Court on March 14.
