According to an ASIC statement, former adviser Warren Acworth appeared at Brisbane Magistrates Court on 30 October to face 16 charges of making making false or misleading statements contrary to sections 1041E(1) and s1311(1) of the Corporations Act, six counts of making a false statement contrary to section 64 of the ASIC Act, and five counts of to fraud contrary to section 408C(1)(e) of the Queensland Criminal Code.
The Corporations Act breaches carry a maximum sentence of 10 years’ imprisonment each, while the ASIC Act offences attract a maximum sentence of two years imprisonment for each charge. The five fraud charges attract a maximum penalty between 14 and 20 years in prison.
Mr Acworth worked as an adviser with Macquarie Equities Limited from 2015 to 2018, ASIC said.
The regulator said he had been placed on bail with the condition that he does not leave Australia without informing the Commonwealth Department of Public Prosecutions 21 days prior to travel.
The matter would return to court on 29 January 2021, ASIC said.
Any comment on what advisory group he fled to once caught by Macquarie compliance?
Shaw’s
Shaws
Pretty easy to to see on the adviser register
I don’t know enough about this case, but was this a case of his fraud only coming to light when he left Macquarie, or did he leave Macquarie because of the fraud?