Failed entrepreneur charged with fraud

A FAILED Queensland entrepreneur has been hit with fraud charges over his collapsed IT venture, accused of taking more than $800, 000 from the company’s coffers.

Jonathan William Parker allegedly created false invoices to conceal taking more than $800, 000 from the company’s coffers.

A FAILED Queensland entrepreneur has been hit with fraud charges over his collapsed IT venture Freenet.

The corporate watchdog alleged Jonathan William Parker, of New Beith, created false invoices to conceal taking more than $800, 000 from the company’s coffers.

Parker is also charged with dishonestly using $140, 000 belonging to a Freenet investor.

The charges follow an Australian Securities and Investments Commission investigation into Parker’s conduct while a Freenet director between 2011 and 2012.

Parker started Freenet in 2011 with the idea of providing free internet to shoppers at places like supermarkets.

In setting up the company he raised nearly $3 million in private share sales to investors.

Despite claims of a partnership with Google and Motorola, Freenet never got off the ground.

Parker appeared in Beenleigh Magistrates Court earlier this month but did not enter a plea.

He was granted bail and is due to appear again later this year.