Question

It is not clear from available public records if the fraudsters Ogru, Gianello or Jiang were prosecuted for false accounting. Discuss whether the fraudsters could be prosecuted for the fraud offence ‘false accounting’ under S83 of the Crimes Act 1958.

Answer 1

According to Section 83 of Crimes Act, 1958, where a person dishonestly with a view to gain for himself or another or with intent to cause loss to another

1. destroys, defaces, conceals or falsifies any account or any record or document made or required for any accounting purpose; or
2. in furnishing information for any purpose produces or makes use of any account, or any such record or document as aforesaid, which to his knowledge is or may be misleading, false or deceptive in a material particular

then he is guilty of an indictable offence and liable to level 5 imprisonment (10 years maximum).

Here “False Accounting” means, a person who makes or concurs in making in an account or other document an entry which is or may be misleading, false or deceptive in a material particular, or who omits or concurs in omitting a material particular from an account or other document, is to be treated as falsifying the account or document.

Hence with reference of Section 83 of crimes Act, 1958, fraudster Ogru, Gianello or Jiang will be prosecuted for a maximum imprisonment of 10 years for the fraud offence of “False Accounting”.