A NSW Central Coast man has appeared in a Sydney court today, charged with two counts of fraudulently misappropriating $260,000 from two investors.
William John Jones of Blue Haven, NSW, has been charged with two fraud offences, following an ASIC investigation.
ASIC alleges that Mr Jones misappropriated a total of $260,000 that he obtained from two investors for the purposes of share trading, telling the investors he would “provide them with reliable returns of between 12 per cent and 30 per cent per annum”.
The corporate regulator further alleges Mr Jones used the funds for his own personal benefit.
Mr Jones was granted bail on condition of surrendering his passport to ASIC.
Each of the offences carries a maximum penalty of seven years’ jail.
SUBSCRIBE TO THE IFA DAILY BULLETIN
22 Jan 2018Hub24 announces platform enhancementsBy Staff Reporter
22 Jan 2018FPA responds to FPEC criticismBy Aleks Vickovich
19 Jan 2018AFA to host international adviser group AGMBy Staff Reporter
19 Jan 2018ASIC warns licensees over death nominationsBy Staff Reporter
18 Jan 2018ABA awaits government action on advice reformsBy Killian Plastow
18 Jan 2018SMSF sector grows 26% in 5 yearsBy Staff Reporter
- view all