Kleenmaid fraud accused tells jury ‘I was not a director’
ANDREW Young has vehemently denied that he acted fraudulently while at the helm of Kleenmaid, saying the prosecution has "got it wrong".
The Sunshine Coast businessman and former director of the giant whitegoods company spoke directly to the jury, pointing them towards his brother and former business partner, saying they were in control of Kleenmaid's spare parts offshoot Edis Services Logistics - not him.
"In this matter the prosecution has got it wrong, very very wrong," Mr Young said.
"Control of Edis … was the responsibility directly of Bradley Wendall Young and Gary Collier Armstrong - full stop. They were the two directors of Edis."
Mr Young, who is representing himself after dropping his legal team, has pleaded not guilty to 19 fraud and insolvent trading charges, relating to Edis Service Logistics.
During his closing address on Tuesday, Mr Young spoke about the humble beginnings of Kleenmaid and how it went from "zero to hero", then back to zero in 2009, when it went into voluntary administration owing almost $100 million.
Throughout the three-month trial Commonwealth Prosecutor Lincoln Crowley has shown a slew of emails, corporate structure diagrams and financial records in a bid to prove that Mr Young was a de facto director of Edis and failed to ensure the troubled company did not continue trading while insolvent.
Mr Young is accused of dishonestly gaining a $13 million loan from Westpac when the poor outlook of the company was known.
But Mr Young poked holes in the prosecution's case saying the jury had been "inundated" with almost 1000 documents that revealed no evidence at all.
Mr Young said all they showed was that he was merely helping to protect Edis as an investment, because it was a "business opportunity" for his brother Bradley Young and was paying a licensing fee to Kleenmaid.
"I'll put it to you very clear that I was not acting as a director of the company. I was assisting Edis as requested to protect my, and my family's, investment." he said.
"And I ask you, wouldn't you do the same thing?"
Judge Brian Deveraux will give his closing remarks after Mr Young's address, before the jury retires to consider their verdict. - NewsRegional