Ezzat-Daniel Nesseim, who previously ran financial services business Smart Financial Strategies licensed under Libertas Financial Planning, appeared at Downing Centre Local Court in Sydney on 2 March to face 16 charges.
ASIC’s case against Mr Nesseim alleges he provided three wholesale client certificates to the regulator as part of an investigation, which were backdated in the hope they would be accepted as genuine and cause ASIC to cease its inquiries into his dealings.
“In response to questions raised regarding these certificates, [he] gave false answers and information to ASIC under oath and affirmed that a written statement provided to ASIC was true, when it contained statements Mr Nesseim knew to be false,” the regulator said.
ASIC also alleges during a hearing around Mr Nesseim’s banning, he made use of fabricated evidence including doctored emails and “purported witness statements” and gave false information under oath.
Mr Nesseim was banned from providing financial services in March 2018. However, he is still the general manager of Accord Partners, which is listed as a “financial concierge and management service”, according to ASIC.
Have a look at the website for Accord Partners and tell me that they are not purporting to offer financial advice, the layperson would have no idea, nor would they know that the GM was banned and currently being pursued through the courts by ASIC for dishonesty……….and legitimate financial planners will pay for this as part of the ever increasing ASIC costs to financial planners, which is another story!!!!
The privacy policy makes for very interesting reading!
“financial concierge and management service”. The fine for unlicensed advise is less than it costs to simply be licensed for one year.
Guess the associated reduction in compliance is a bonus.
And how about the number of Accountants out there on a daily basis who sign Wholesale Certificates for clients without any investigation or evidence? Or who sign certificates for banks’ lenders to verify financials for a loan without numbers being correct either?
My god. They just keep coming out of the woodwork……
….and they will continue to …..