The former chief executive of Bananacoast Community Credit Union, Lyndon Kingston, is facing criminal charges for dishonest use of his position, providing false information, making a false document and using a false document.
Kingston appeared in the Brisbane Magistrates Court on Friday. He was later released on bail and the matter was adjourned until February.
Kingston's career included work as a senior manager at the Australian Prudential Regulation Authority, where he supervised credit unions.
The alleged offences occurred between December 2015 and August 2017. They include:
• three counts of dishonest use of his position as a director of BCU;
• two counts of providing false information to BCU;
• one count of making a false document with the intention of dishonestly inducing a public official to accept as genuine under section 144.1 of the Criminal Code; and
• one count of using a false document with the intention of dishonestly inducing a public official to accept as genuine under section 145.1 of the Criminal Code.
In civil litigation last year, BCU accused Kingston of repeatedly evading APRA queries about a contract with a company that paid him secret commissions. Kingston in turn sued BCU for breach of contract.
BCU folded into Perth-based P&N Bank at the beginning of November.