Economy

Jail for the clothing company director

SmartCompany /

A Toorak man has been jailed for two years for his involvement in making corrupt and secret payments to a former ANZ bank officer. Cedric Anthony, who was sentenced yesterday in the County Court of Victoria, will be eligible for parole after serving 18 months in prison.

The Australian Securities and Investments Commission alleged Anthony, a director of Austasia Clothing (in liquidation) and an ANZ bank customer, received unauthorised and unapproved payments from Stephen Craig Jenvey, a former bank officer with ANZ, between June 2004 and March 2005.

In return, Anthony made secret and corrupt payments to Jenvey: $9000 in cash credited to a TAB account held by Jenvey, as well as a business class flight to Sri Lanka for Jenvey valued at more than $5000.

Jenvey, who had been employed by ANZ since 1981, was the Trade Relationship Manager. In April 2007, he pleaded guilty to six counts of theft and three counts of corruptly receiving an inducement or reward. He was sentenced to four years and three months imprisonment. He was sacked when ANZ discovered the theft.

Jenvey admitted to stealing approximately $7.3 million between June 2004 and March 2005 by making unauthorised and undocumented payments to the customer from other customers’ trade facilities.

The payments were not properly recorded and Jenvey deliberately hid the true state of the payments from ANZ.

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