ACCC FILES CHARGES IN KLEENMAID FRANCHISE FRAUD, ALLIED BRANDS DIRECTORS NEXT UP FOR PROSECUTION

While the ACCC is known for turtle-like enforcement actions, criminal charges have finally been lodged against Kleenmaid directors in a case very similar to the Allied Brands collapse.


Many of the same government lawyers are known to be working on both of these cases.  With the charges now laid in the Kleenmaid fraud, the finalisation of the Allied case is said to be front and centre.


Several similarities exist between the Kleenmaid collapse and Allied Brands (ABQ).  Banks were defrauded in both cases.  Both companies were trading while insolvent.  In both, directors were neck deep in directing the company actions.  And in both companies large amounts of company money and assets went "missing".  At Allied Brands, former CEO Shane Radbone extended himself (and his wife, Victoria Radbone) a loan of almost $1,000,000 that has gone unpaid after the collapse.  And in both cases franchisees were forced to operate at a loss due to lack of product and company support.


At least one of the former directors is hiding in Fiji, and another, Korda Mentha director Lachlan McIntosh continues to "hide" from the public due to his Chairmanship of this collapsed public company.


Investigations into these frauds are also said to be coordinated with actions likely against Shane Radbone, Anthony "Tony" Cavanagh, and at least one of the Grahams for migration fraud in the sale of 457 visas to Koreans and Indians.


Gold Coast gaol is going to be full with these criminals quite soon.