Calvary Hospital's former chief financial officer has been convicted in the ACT Magistrates Court of doctoring the company's finances to the tune of millions of dollars.
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Between 2012 and 2014, Wayne Allan Armistead, who was chief financial officer of Calvary Health Care ACT Ltd, caused the reporting of 28 false entries into the financial statements of the company.
Those false entries led Calvary to report earnings of $1.9 million in the 2014 financial report when the actual figure, after entries were correctly readjusted, was a loss of more than $9 million.
Armistead, who now resides in Victoria, was also convicted of providing false information to the company auditor. He pleaded guilty to the charges.
For the charges of causing the false entries, Armistead was sentenced to a two-year good behaviour bond and fined $3000. Should he breach the good behaviour bond he will be liable to pay another $1000.
He was slapped with a further $2000 fine for providing false information to the auditor and another two-year good behaviour bond with the same $1000 fee if he breaches it.
Armistead was also barred from managing any companies for five years.
The charges stemmed from an investigation from the Australian Securities and Investments Commission after the report was lodged by the company auditor.
Armistead resigned from the position of chief financial officer at Calvary in September 2014, following a tumultuous period for the hospital.
