Adviser faces eight fraud charges
Former authorised representative with Fundamental Group Peter Braun has been charged with eight offences, following an investigation by the Australian Securities and Investments Commission (ASIC).
Braun, of Rose Bay, NSW, appeared before the Downing Centre Local Court faced with six charges of acting dishonestly under the Corporations Act.
According to ASIC, Braun provided reports to six investors that contained false and misleading information as to the value of their investments.
Braun has also been charged under the NSW Crimes Act with two counts of making false instruments in relation to buy and sell share contract notes that were provided to an investor.
ASIC’s investigation into the case has also led to two other Fundamental Group authorised representatives, Daniel Gara and Philip Allen, being banned from providing financial services for a period of three years and 12 months respectively.
Fundamental Group entered into voluntary administration in November 2006, owing investors approximately $2.4 million.
AUTHOR
George Liondis
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