Banned adviser charged with fraud

financial services licence financial planner australian financial services adviser australian securities and investments commission

11 April 2007
| By Kate Kachor |

A former financial planner has faced the Brisbane Magistrates Court on seven fraud charges relating to activities that left his clients more than $126,000 out of pocket.

Scott James Dawson of Warner, Queensland, was charged by the Australian Securities and Investments Commission (ASIC) with seven counts of dishonestly causing detriment to six clients totalling $126,754.33 between February 2002 and June 2004. Dawson was also charged with one count of uttering a forged document.

He was released on bail and the matter was committed to the Brisbane District Court on a date to be fixed. The matter is being prosecuted by the Commonwealth Director of Public Prosecutions.

This is not the first time Dawson has been charged by ASIC. In 2006, the regulator permanently banned Dawson from providing financial services.

The former authorised representative of Synchronised Business Services was fired from the company after failing to comply with the provisions of its Australian Financial Services licence.

Following Dawson’s departure, Synchronised Business Services referred the matter to ASIC, which found he had engaged in dishonest, misleading and deceptive conduct in relation to a number of financial products, including superannuation and share advice provided to his clients.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 3 weeks ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 3 weeks ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 3 weeks ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

1 week 3 days ago

The Reserve Bank of Australia's latest interest rate announcement has left punters disheartened on Melbourne Cup Day....

1 week 2 days ago

The Federal Court has given a verdict on ASIC’s case against Dixon Advisory director Paul Ryan which had alleged he breached his director duties....

1 week 1 day ago