Sonray Capital Markets chief executive of finance is facing jail time for his role in stealing funds and making false and misleading account entries valued in the millions of dollars.

 

Scott Kenneth Murray pleaded guilty to 10 charges relating to deception in the Victorian Supreme Court after the broking company collapsed last year, leaving the group owing $47 million in outstanding debt to clients.

 

The charges relate to offences committed between May 2007 and June last year while Mr Murray was chief executive. Mr Murray has formally pleaded guilty to six counts of false accounting, two charges relating to theft and one of obtaining financial advantage by deception and one of misleading an auditor.

 

Prosecutor Gregory Lyon SC has called Mr Murray has called the offences a case of “serious offending” warranting a 5 to 6 ½ years jail time with a minimum of 3 1/2 to 4 1/2  and should serve as an example to deter future similar offences.