Steven Andrew Soong, of Concord New South Wales, has been banned by ASIC from managing corporations for three and a half years.

Reason:
Mr Soong failed to discharge his duties as a director by using tax debts that were collected on labour hire costs to continue trading the companies instead of remitting the debt to the Australian Taxation Office.
Content of Penalty:

Mr Soong's banning follows the appointment of liquidators to three companies he managed, Kalnosa Pty Ltd, Linsari Pty Ltd and Larsay Pty Ltd.

Date: 12/09/2017
Link: http://www.asic.gov.au/about-asic/media-centre/find-a-media-release/2017-releases/17-309mr-former-director-disqualified-from-managing-companies/