Former director and CEO of Bananacoast Community Credit Union, Lyndon Allen Kingston, has been found guilty of dishonest conduct.
On 12 November 2024, following a four-week trial in the Brisbane District Court, a jury found Kingston guilty of two counts of dishonestly using his position with the intention of gaining an advantage and two counts of providing misleading information to the auditor of BCU.
The jury were unable to reach a unanimous verdict concerning two further counts and were subsequently discharged from further deliberations in respect of these ASIC said in a media release yesterday.
The alleged offences occurred between December 2015 and August 2017.
Kingston was released on bail ahead of sentencing on 10 December 2024.
AISC charged Kingston in December 2019.
BCU folded into Perth-based P&N Bank in late 2019.
The matter was prosecuted by the Commonwealth Director of Public Prosecutions following an ASIC and APRA investigation.