Odyssey Equity Finance Pte Ltd has appeared through legal representation at Dandenong Local Court charged with a number of criminal offences relating to financial reporting.。

Odyssey, an Australian Financial Services (AFS) licensee, is charged with the following offences:

• Three counts of failing to file an income statement and balance sheet
• Three allegations of failure to submit an audit report with the income statement and balance sheet

The Australian Securities and Investments Commission (ASIC) charged Odyssey with failing to file reports for each of the financial years ending 30 June 2020, 2021 and 2022 as required by the Companies Act.。

• The maximum penalty for a body corporate failing to submit an income statement and balance sheet [section 989B (2) of the Companies Act] is 133.$20,000;
• The maximum penalty for each failure of a body corporate to submit an audit report [section 989B (3) of the Companies Act] at the same time as the profit and loss statement and balance sheet is US $1,332,000.。

This is the third recent prosecution of a financial services licensee by the Australian Securities and Investments Commission, following allegations by APC Securities Pty Ltd and Brava Capital Pty Ltd of breaching section 989B of the Companies Act.。