Melinda Scott, who was previously handed a 25-year disqualification from managing corporations (until 2 December 2037) and permanently banned from providing financial services by ASIC, appeared in Downing Centre Local Court on Tuesday (14 December), where she was conditionally released on a two-year bond with a $1,000 recognisance.
ASIC alleged that between 5 August 2019 and about 9 February 2021, Ms Scott incorporated Driven By Results and acted as sole director, shareholder and employer.
The corporate regulator alleges that Ms Scott conducted business as a chauffeur driver and opened and operated three bank accounts under Driven By Results as the sole signatory.
At the time of the alleged offending, managing a corporation while disqualified carried a maximum penalty of five years imprisonment and/or a fine of 600 penalty units.
The question is how does a banned individual register as a company director ? Regulator asleep at the wheel?
Glad that the financial advice community will be funding these investigations which offer so much protection to our clients to protect them from the likes of this rogue limo driver.