A web entrepreneur has been spared immediate jail time after being found guilty of breaching his director duties, including withdrawing more than $29,000 from his company for personal use.
Oliver James Wood stood trial in the West Australian District Court and was convicted of three counts of using his position at SEO Company dishonestly to gain an advantage.
He also pleaded guilty to four counts of making a false statement in documents lodged with the Australian Securities and Investments Commission.
Wood's defence counsel Anthony Eyers told the court on Thursday that his client had no prior record and had several character references.
Although Wood had been dishonest, he had learned his lesson, Mr Eyers said.
Judge Stephen Scott described Wood's actions as "unsophisticated" and said it was inevitable he would be detected.
Mr Eyers submitted that Wood, who was aged 27 at the time, was remorseful, but Judge Scott said the offender seemed more remorseful about the position he found himself in.
However, the judge did accept that Wood understood the gravity of his crimes.
He said general and personal deterrence "loomed large" although Wood was not necessarily at risk of re-offending.
Wood was fined $40,000 and placed on a $5000 good behaviour reconnaissance for 10 months.
He will have 28 days to pay the fine unless he can reach an alternative payment plan with authorities.
Some of Wood's supporters sighed with relief and cried in court when the sentence was handed down.
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