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Legal clamp on elusive Firepower boss Tim Johnston
ELUSIVE Firepower boss Tim Johnston has been ordered to stay in Australia for questioning over the $100 million collapse of his fuel technology company.
He has been served with an injunction that keeps him in the country to face questions from the Australian Securities and Investments Commission, which has been investigating the company.
The papers were served on Mr Johnston today at the sprawling Gold Coast mansion owned by his wife after he slipped into the country earlier this week.
Liquidators have also obtained an order today that Mr Johnston must appear in the Federal Court in Perth on November 26 to face a public examination into the failure of Firepower.
When alerted that Mr Johnston had flown into Brisbane from Indonesia via Singapore, ASIC yesterday made an the urgent application to the Federal Court to force him to stay in the country.
They also had a ``port watch'' put on on all airports and ports in case he tried to get away.
Mr Johnston faces jail if he tries to leave the country after being served with a copy of Justice
Tony Siopis's order .
Mr Johnston must now hand his passport in to the Federal Court registry in either Brisbane or Perth by noon Friday.
When the application was made ASIC claimed there was a risk he would leave Australia immediately if he heard about the injunction.
It has been reported he was expected to leave for Indonesia tomorrow.
Mr Johnston fled Australia in March last year and has reportedly been living in London and Bali.
His daughters, Emily and Madeline, have been living in Perth and holidaying with their father overseas and it is understood Mr Johnston hoped to have been with his daughters for Madeline's 21st birthday party.
More than 1000 shareholders sank $100 million into Mr Johnston's failed company that claimed to have invented a fuel additive that would cut fuel use and reduce vehicle emissions.
Millions of dollars were raised by selling Firepower shares on the false premise that the company would deliver big returns when it listed on a London stock exchange.
Mr Johnston has been living the high life around the world, refusing to return to Australia to answer questions from investors and the Australian Securities and Investments Commission.
http://www.news.com.au/perthnow/stor...017962,00.html
What a![]()
Usually government services include the assets of both partners in a marriage when they calculate them. Wonder if the same applies in liquidation proceedings? It should.The papers were served on Mr Johnston today at the sprawling Gold Coast mansion owned by his wife after he slipped into the country earlier this week.
"The main difference between playing League and Union is that now I get my hangovers on Monday instead of Sunday - Tom David
silly bugger for coming back
The greasy fraudster was cocky enough to slither back into the Australia… Good now toast him ASIC... Tim Johnston the master of the slippery long con... I would think a number of other government agencies would want a piece of him as well...
The For legal reasons, comments cannot be published on this matter. at the footer of that article is interesting ... Frank?
Dear Lord, if you give us back Johnny Cash, we'll give you Justin Bieber.
Maybe its not really Tim Johnston??
It could be Brittany Spears!!
or maybe Kevin Rudd. Pretty sure he slipped into the country and would have flown out soon...
"12 Years aSupporter" starring the #SeaOfBlue
Its times like these I love karma!!
Karma is another sponsor![]()
The West doesn't have a problem -- whole page on him this morning
Australia's Bernie Madoff ???
61 years between Grand SlamsWas the wait worth it - Ya betta baby
he's either really dumb or really cocky .. he must have known this would happen ?
Chuck Norris has the greatest Poker-Face of all time. He won the 1983 World Series of Poker, despite holding only a Joker, a Get out of Jail Free Monopoly card, a 2 of clubs, 7 of spades and a green #4 card from the game Uno.
what is firepower?
what?
when they keep glancing over at me i know they think iam cute and are checking me out -Kalafan 10/3/10
i have difficulty in my life. alot of girls like me but i cannot ask them out. i think they like me cause i am good looking and have a nice smile.- kalafan 3/7/10
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like you Jargs?
when they keep glancing over at me i know they think iam cute and are checking me out -Kalafan 10/3/10
i have difficulty in my life. alot of girls like me but i cannot ask them out. i think they like me cause i am good looking and have a nice smile.- kalafan 3/7/10
FREE LINDSAY
Born TROLLIN