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    http://asic.gov.au/about-asic/media...ey-businessman-andrew-sigalla-to-stand-trial/

    Monday 24 November 2014
    14-311MR Sydney businessman Andrew Sigalla to stand trial

    Sydney businessman, Andrew Sigalla, today was ordered to stand trial on allegations he breached his duties as a director.
    Mr Sigalla was charged in May 2013 with 16 counts, and in November 2013 with an additional 8 counts, of dishonestly using his position as a director by making more than $8.7 million in payments to himself to pay off gambling debts and to make loan repayments on behalf of private companies he controlled.
    ASIC alleges Mr Sigalla made 24 payments totalling $8,719,318 from bank accounts of TZ Limited between 8 December 2006 and 2 March 2009, for his own benefit and/or the benefit of private companies he controlled. It is alleged that most of the money was used to pay off Mr Sigalla’s gambling debts to his bookmaker, Tom Waterhouse, and the remainder was used to meet mortgage payments on behalf of one of his personal companies (refer: 13-108MR).
    Mr Sigalla has not yet entered a plea to the charges.
    Following a committal hearing in Sydney Downing Centre Local Court, Mr Sigalla has been ordered to stand trial.
    The matter will next be mentioned in the Local Court on 18 December 2014, at which time it will be known whether Mr Sigalla will be tried in the District Court or the Supreme Court.
    The Commonwealth Director of Public Prosecutions is prosecuting the matter.
    Background

    Mr Sigalla has been charged with 24 offences against section 184(2)(a) of the Corporations Act 2001. The maximum penalty for each offence is five years imprisonment and/or a $220,000 fine.
    Editor's note 1:
    On 18 December 2014, Mr Sigalla was committed for trial in the Supreme Court. The matter was adjourned to 6 February 2015 for his arraignment.
    Editor's note 2:
    On 6 February the matter was stood over until 1 April 2015 for Mr Sigalla's arraignment.
 
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