On 29 July 2022, former Legacy Iron Ore Limited (Legacy) Managing Director, Sharon Kia Le Heng, of Perth, Western Australia, pleaded guilty to one offence of stealing contrary to subsection 378(8) of Criminal Code (WA).
Between 28 June 2012 and 6 November 2013, Ms Heng stole $725,639.50 from Legacy, an ASX listed entity.
Ms Heng organised 13 electronic fund transfers from Legacy’s bank accounts to the bank account of Regency Infrastructure Pty Ltd (Regency), in circumstances where there was no lawful purpose.
Ms Heng concealed the transfers from the Legacy board and went on to use the transferred funds for her own benefit.
Ms Heng was the founding director of Legacy and from 20 April 2007 to 31 October 2014, was the Managing Director.
The Commonwealth Director of Public Prosecutions is prosecuting the matter after a referral from ASIC.
The matter was committed to the District Court for a sentence mention on 23 September 2022.
Former Legacy bookkeeper and Ms Heng’s co-accused, Ms Karen Kwan, is charged with stealing in this matter (20-311MR). Ms Kwan’s matter has been adjourned until 26 August 2022.
The maximum penalty for a charge under s378 of the Criminal Code (WA) is ten years imprisonment.