Gabriel Nakhl faced court over eight charges of engaging in dishonest conduct with investor funds, and pleaded guilty to “being knowingly engaged in dishonest conduct in relation to 12 investors”, the corporate regulator said in a statement.
Nakhl’s conduct occurred between March 2009 and March 2011, while he was an authorised representative of the liquidated Australian Financial Services Limited (AFS Group), and March 2011 and September 2013, while he was the sole director of SydFA Pty Ltd, also in liquidation.
Nakhl was first charged with dishonest conduct in 2016 after entering an enforceable undertaking with the regulator in November 2013, which “permanently restricts him from providing financial services and restricts him from managing a corporation for 15 years”, the statement said.
“The matter has been listed for a three-day sentence hearing commencing on 11 March 2019,” ASIC said.
“The charges were brought against Mr Nakhl following an ASIC investigation. The Commonwealth Director of Public Prosecutions is prosecuting the matter.”
“Anon” who thinks ANY AFSL provides risk cover for them is blind and/or stupid. The protection is for the licencee…NOT their ARs. None are bulletproof and no adviser is safe unless they do no wrong AND keep their clients happy and appreciative. Being self-licenced is the safest way, but you still have to do those two things.
I was blind and stupid lost over 1 mill. I thought id done my research and checked out history and credentials. Apparently not well enough.
Was it another “fee for service” con / rort??
If ASIC was awake and knew the industry they would understand what a con fee for service is.
Strong ties with ASIC. Who is in who’s pocket?
Raising the education standards and getting rid of half of us will fix this behaviour…..so they say.
This could not happen to any planner in Sychron. Most ASIC bulletproof licensee in the Australia. They have strong ties with ASIC, every adviser should join Sychron if they want be safe from ASIC.
Just do the job properly without relying on ANYONE else .. Licensee or whoever.
Hi Annoymous
Don Trapnell must love you painting a target on the back of Synchron with your ridiculous comments. . NOT!
It is a worry your can’t spell anonymous correctly but even more of an indictment that you can’t spell your own licensee name Synchron correctly.
Synchron can definitely expect some attention from ASIC in the very near future as they are another fast growing dealer group of last resort.