Jail and suspension for former industry high-flyer Mohammed


Former Crane Trucks R Us director guilty of three counts of fraud

Jail and suspension for former industry high-flyer Mohammed
Mohammed spruiked his various award wins

 

Former director of Crane Trucks R Us, Farmouz Farhaad Mohammed, is disqualified from managing corporations until 2026 after his recent jailing for fraud, the Australian Securities and Investments Commission (ASIC) reports.

Also known as Fred Mohammed, the Queensland-based company director was found guilty and convicted of three counts of dishonestly causing detriment to Crane Trucks R Us (ACN 128 496 597).

The company operated a wet hire, road-based logistics and lifting services business throughout Queensland, New South Wales and Victoria before being placed in liquidation on November 6, 2015.

An ASIC investigation found that, in August 2015, on three separate occasions, Mohammed dishonestly withdrew a total of $256,000 from the company account about 10 weeks before it was placed in liquidation and was most likely insolvent. 

At the time of its liquidation, the company had total liabilities of $6,266,394.69 owed to 198 creditors.


How the demise of Crane Trucks R Us was reported in 2015, here


Mohammed appeared in the Queensland District Court, sitting at Ipswich, between June 8 and 11. 

"He was found guilty by jury and sentenced to two years and six months imprisonment on count one and 12 months imprisonment each on counts two and three, to be served concurrently," ASIC explains.

"Judge Lynch ordered that the term of imprisonment be suspended after serving six months, with a three-year operational period commencing on 11 June 2021, during which time Mr Mohammed must not commit another offence punishable by imprisonment."

Mohammed projected a high profile within the T&L sector, with his social media presence spruiking his 2014 Australian Freight Industry Young Achiever and 2015 Australian Entrepreneur Of Year awards – the latter aligning with the year his company went into liquidation.

He is also listed as operating another entity, Tranz Logistics, which was an Australian Financial Review (AFR) ‘Fast Starter’ in 2020 with a reported revenue of $3.9 million in FY19, a rise of 28 per cent on the previous year.

However, as a consequence of his conviction, Mohammed is automatically disqualified from managing corporations until June 10, 2026.

 

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