Busy watchdog nabs fraudsters
A former MawsonSecurities adviser who allegedly defrauded the Queensland company of nearly $500,000 is one of three separate fraudsters to be set upon by the Australian Securities and Investments Commission (ASIC) last week.
Robert Pierre Macville of Alexandra Headland, Queensland, appeared in the Maroochydore Magistrates Court last Thursday on six counts of fraud.
ASIC alleges Macville dishonestly redirected funds from his employer totalling $467,432 into his own private company Macville and Gibson Holdings between March 2001 and July 2003.
Macville's authorised representative status with Mawsons Securities was terminated on March 29 last year.
The matter is being prosecuted by the Commonwealth Director of Public Prosecutions and was adjourned until July 28. Macville was released on conditional bail, and required to surrender his passport.
ASIC also prosecuted two people late last week for carrying on a financial services business in 2003 without an Australian Financial Services Licence (AFSL).
Donald Maxwell of Busby, NSW appeared in Sydney’s Downing Centre Local Court on Thursday on one charge of contravening the Corporations Act 2001.
ASIC alleges that Maxwell operated a property investment promotion business, Business Express Success Techniques, without holding a AFSL.
It is alleged that Maxwell raised about $1.1million from three elderly investors in Sydney and Newcastle, who invested in two Sydney-based property development companies.
The companies, Central Development Group and Oceanwalk Projects were subsequently placed in liquidation in 2004, and the investors were unable to recover their funds.
The Commonwealth Director of Public Prosecutions is prosecuting the charges against Maxwell. The offence carries a pecuniary penalty, or imprisonment for up to two years, or both.
On Friday ASIC launched proceedings in the Federal Court in Perth against David Alan Zohar and also Swancove Enterprises.
The proceedings follow an ASIC investigation into written advertisements containing recommendations intended to influence people to acquire shares in Red River Resources, Corella Oil and Australian Biogen. Mr Zohar is a director of these companies.
It is alleged that between July 2003 and August 2004 Zohar and Swancove used a bulk mailing company to send unsolicited letters to over 55,000 persons offering shares in the companies.
ASIC is seeking an order from the court preventing Swancove and Zohar from operating without an AFSL, and to provide notice to investors, giving them an opportunity to cancel their acquisition of shares.
The action has been listed for a hearing in the Federal Court in Perth on July 15.
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