Former CEO and director of FAL Healthy Beverages Pty Ltd, Tim Xenos, also known as Efthymios Xenos, of Peakhurst, NSW, has successfully appealed one of three criminal charges for which he had previously been convicted and sentenced.
On 24 April 2026, an appeal against Mr Xenos' earlier conviction on a charge of using his position dishonestly with the intention of gaining an advantage for himself was allowed and as a result Mr Xenos was acquitted of that charge.
Mr Xenos withdrew his appeal against his conviction on two other criminal charges, one of making business decisions while disqualified from managing a corporation, and the other of failing to fully and truly disclose information to his bankruptcy trustee. Mr Xenos pressed his sentence appeal against those charges.
A sentence appeal hearing (including the question of resentencing following the successful conviction appeal on one charge) was held on 26 June 2026 and adjourned to 5 August 2026 for judgment.
The matter and appeal are being prosecuted by the Office of the Director of Public Prosecutions (Cth) (CDPP) following an investigation and referral from ASIC.
Background
On 27 February 2025, in the Local Court of NSW, Mr Xenos was found guilty of breaching:
- Section 206A(1)(a) of the Corporations Act by making business decisions while disqualified from managing a corporation
- Section 184(2) of the Corporations Act, and
- Section 265(1)(ca) of the Bankruptcy Act 1966 (Cth) (the Bankruptcy Act) for failing to fully and truly disclose information to his bankruptcy trustee (refer 25-038MR).
On 9 May 2025, Mr Xenos was sentenced and received an aggregate sentence of 18 months' imprisonment for the three guilty findings to be served by way of an intensive correction order. The Court imposed an additional condition on the intensive correction order that Mr Xenos complete 200 hours of community service work (refer 25-072MR).
Mr Xenos lodged an all-grounds appeal which was heard on 25 March 2026 in the District Court of NSW, with judgment delivered on 24 April 2026.
