Megafraud appeal: 'Profound' Kleenmaid problem alleged
"PROFOUND" problems with a forensic investigation have been claimed at jailed Kleenmaid fraudster Bradley Wendell Young's appeal.
The former Sunshine Coast whitegoods businessman has gone to the state's highest court, saying a miscarriage of justice put him in jail.
Barrister Saul Holt represented Young on Thursday as a two-day hearing with multiple grounds of appeal began.
Young was jailed for nine years after jurors found he dishonestly secured an enormous Westpac loan and incurred about $4million in debts while insolvent.
Mr Holt said the way the prosecution case "changed" during Young's trial for defrauding Westpac of $13million constituted a miscarriage of justice.
He told Queensland Court of Appeal "profound problems" existed with a cashflow analysis done on behalf of accounting firm Deloitte.
"It went to the heart and the nature of the analysis which informs most directly the question of whether a company is insolvent or not."
Mr Holt said trading while insolvent was only a criminal offence if dishonesty was proven.
He said prosecutors wrongly asserted that since Young was aware of the insolvency, then "dishonesty followed, as night followed day".
But in truth, Young was "working night and day to secure financing" to help his business withstand the global financial crisis, Mr Holt said.
Commonwealth prosecutor Wendy Abraham began addressing the court on Thursday afternoon and is expected to continue on Friday.
In 2016, prosecutor Stephen Keim claimed Young misled Westpac about Kleenmaid's financial health and how intertwined it was with the Edis Service Logistics company.
Young, ineligible for parole until November 2022, was in court for his appeal against conviction and sentence, seated in a dock next to the bar table.
He had permission to use a laptop in flight mode to view documents which were also displayed on court screens to the public gallery.
Kleenmaid entered voluntary administration in early 2009 and later into liquidation, owing creditors about $96million.
At sentencing in 2016, Judge Brad Farr said Young was "one of the prime movers" in the Westpac fraud.