ASIC announced that Wael Kourieh, who was a director of Nexus Financial Planning Pty Ltd from 8 June 2010 until 14 March 2016, entered the plea in Parramatta Local Court on Friday.
The corporate regulator said that Nexus purchased a client book for AMP superannuation product, SuperLeader, and received commissions from AMP in relation to each member in the client book. It’s understood Mr Kourieh was responsible for “generating new business and administering the SuperLeader client book”.
ASIC alleges that between September and November 2015, Mr Kourieh “made false documents by forging 30 member signatures on AMP superannuation investment election forms with the intention of inducing AMP employees to accept them as genuine to obtain a financial advantage, namely commissions from AMP” and “used false documents… knowing them to be false, intending they be used to induce AMP employees to accept them as genuine, to obtain a financial advantage, namely commissions from AMP”.
The maximum penalty for the offences is a two-year prison sentence and/or an $11,000 fine.
The matter is listed for sentencing on 6 August.
Keep us posted with ACTUAL SENTANCE. Hope he gets the max. Places a shadow over all of us…
Crook! Thanks Wael! From the rest of us! 🙁
No sympathy for such stupidity.
Those are the sort of genuine fraud crimes that should be charged to the greatest extent that they are able to be. We don’t need any additional or new laws or governance for that sort of thing, but it is those sorts of clowns that have put the industry in such a terrible position…
Dope should have been with a union industry super fund – you can do whatever you want (or do nothing at all) and still get as much commission and fees you want, all without a single client signature needed! Probably also would have got the free corporate box entries, bonuses and other rewards, all with the blessings of the same regulator making his life hell atm.
Compare that pair!!!
wouldn’t it have been easier to just get the members signatures directly from them??
When will AMP have their day in court for “ring fencing” client registers ?
I suspect never. Negotiated fine.
Just dumb
How strange, 2 years imprisonment or $11,000 fine!! Obviously he’d take the fine, it’s nothing really for the crime committed.
Not his choice. The Judge decides that.