Richard Ludwig had a newborn child, six stores selling phones and accessories, and a wall of mounting financial problems after agreements with Telstra changed.
But asset-stripping deals he as director cut with “pre-insolvency” specialists in 2014 landed him on Thursday with a five-year jail sentence. Ludwig, 39 and a father of two, will be eligible for parole after 20 months.
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Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au
