Kleenmaid boss guilty of $13m fraud

Jury finds former director defrauded Westpac of $13m and had debts of more than $750,000 by trading while insolvent.

Kleenmaid collapsed in 2009 with debts of around $96m, leaving 6000 customers $26m out-of-pocket after failing to supply purchased goods.

The former director of white goods importer Kleenmaid has been found guilty of fraud and insolvent trading after a 59-day trial in the Brisbane District Court.

A jury found Andrew Eric Young, 66, defrauded the Westpac bank of $13m and had accumulated debts of more than $750,000 by trading while insolvent.

He will be sentenced on February 7.

Kleenmaid collapsed in 2009 with debts of around $96m, leaving 6000 customers $26m out-of-pocket after failing to supply purchased goods.

AAP