Burnard sentence appealed
The Commonwealth Director of Public Prosecutions (CDPP) is not satisfied with the sentence handed to former Westpoint promoter Neil Burnard and has lodged an appeal in the NSW Court of Criminal Appeal.
The CDPP will appeal against the “leniency of the sentence” imposed on Burnard while Burnard continues to try to prove his innocence.
The Sydney man was sentenced in August in the NSW District Court to 12 months imprisonment, which was suspended with a good behaviour bond for those 12 months. He was fined $50,000. But while the CDPP and the Australian Securities and Investments Commission (ASIC) are making clear their disappointment with the outcome of the trial, Burnard yesterday said he intends to appeal against his conviction. ASIC said it asked the CDPP to consider lodging an appeal on the day Burnard was sentenced.
In May this year a jury found Burnard guilty of nine criminal charges arising from ASIC’s investigation into the affairs of Kebbel Pty Ltd, now known as Palentia Pty Ltd, which formed part of a broader inquiry into the collapse of the Westpoint group.
The matter will return to court on November 6, 2008.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.