Former National Transport Industries director Trevor Smith has been charged with 12 counts of knowingly and dishonestly making improper use of his position while fulfilling his role as a director of the company.

ASIC alleges that Mr Smith – who was a director of NTI from 1986 until October 1999 – used his position to gain an advantage for three companies, Noble House Development Corporation, Kalamata Pty Ltd and Fenning Timbers, by lending them more than $5 million.

The case has been adjourned by the Southport Magistrates’ Court in Queensland until July 17.