Former Gold Coast Crane Trucks R Us director Farmouz Farhaad “Fred” Mohammed jailed for fraud

A Gold Coast man who withdrew $256,000 from his company before it went into liquidation with debts of $6.2m has been jailed for two and a half years.

Farmouz Farhaad Mohammed, known as Fred Mohammed, has been jailed for fraud.

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A GOLD Coast man who withdrew $256,000 from his company before it went into liquidation with debts of $6.2m has been jailed for two and a half years.

Hope Island’s Farmouz Farhaad Mohammed, also known as Fred Mohammed, was found guilty of three counts of fraud for his conduct while director of Crane Trucks R Us.

The company operated a wet hire, road-based logistics and lifting services business throughout Queensland, New South Wales and Victoria and was placed in liquidation in November 2015.

A statement from ASIC said investigators found Mr Mohammed had, on three separate occasions, dishonestly withdrawn funds from the company account.

“The withdrawal of the funds occurred around 10 weeks before Crane Trucks R Us was placed in liquidation and was most likely insolvent,” the statement said.

“At the time Crane Trucks R Us was placed in liquidation it had total liabilities of $6,266,394.69 owed to 198 creditors.”

Farmouz Farhaad Mohammed, known as Fred Mohammed, has been jailed for fraud.

Mr Mohammed appeared in the Queensland District Court sitting at Ipswich between June 8-11.

He was found guilty by jury and sentenced to two years and six months imprisonment on count one and twelve months imprisonment each on counts two and three, to be served concurrently.

Judge Dennis Lynch QC ordered that the term of imprisonment be suspended after serving six months, with a three-year operational period commencing on June 11.

As a consequence of this conviction, Mr Mohammed is automatically disqualified from managing corporations until June 10, 2026.

The matter was prosecuted by the Commonwealth Director of Public Prosecutions.

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Originally published as Former Gold Coast Crane Trucks R Us director Farmouz Farhaad “Fred” Mohammed jailed for fraud