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Butcher escapes jail after laundering man’s superannuation funds to pay business debts



A South Australian butcher who could not secure a bank loan to repay a large business debt has escaped jail for money laundering a man’s superannuation funds “in desperation”.

Thirty-year-old Michael Kevin Cheney pleaded guilty to knowingly engaging in money laundering after his Paralowie butchery fell into debt in December 2018.

The District Court of South Australia heard he could not repay the debt or secure a bridging loan so he placed an advertisement for a loan on popular buy and sell site, Gumtree.

“You were carrying…

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