A Melbourne-based accountant has pleaded guilty to 27 criminal charges, including running a financial services business without an active AFSL.
In a statement issued yesterday, ASIC announced that accountant Mark Ronald Letten, former principal of Lettens Pty Ltd, has pleaded guilty to charges that include operating 21 unregistered managed investment schemes, following an ASIC investigation.“Between 1998 and 2010 more than 1,000 investors placed more than $100 million in investment property schemes in Australia and New Zealand,” the statement said. “Mr Letten managed and promoted the projects through a number of companies including LGH Holdings Ltd.”The accountant is facing a maximum sentence of five years' imprisonment for each charge relating to unregistered managed investment schemes, and two years' imprisonment for running an unlicensed financial services business.Mr Letten will reappear in the Victorian County Court in May.
Comments powered by CComment
The super fund says it is in favour of a superannuation advice network involving non-relevant providers with a minimum ...
Minister Jones has more pressing priorities to address before turning his attention to the ASIC levy, he confirmed at an ...
AMP is planning to launch its digital advice tool next year.
Speaking at the ASFA Conference in Adelaide, Matt ...
Never miss the stories that impact the industry.
Get the latest news! Subscribe to the ifa bulletin