The former director of Froggy.com, Karl Suleman, could well be thinking about a move into the big house after his appearance in the Central Local Court in Sydney today.
Suleman faces a total of 26 charges stemming from his Karl Suleman Enterprises and its supermarket trolley collection business between April 2000 and July 2001.
The charges include 15 counts of making false statements to investors in the supermarket trolley collection business and 11 counts of using false documents to induce one investor to invest $1 million in trolley business.
Suleman did not entered a plea and was granted bail with a number of conditions including restrictions on his movements outside Sydney and reporting daily to the police.
Read the ASIC media release here: Karl Suleman charged with fraud
Check out Crikey’s list of the people ASIC has jailed so far here:
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