Former ANZ AR convicted

16 December 2021
| By Chris Dastoor |
image
image
expand image

Former authorised representative of ANZ-owned Millenium3, Melinda Scott (also known as Melinda Fletcher), has been convicted of managing a corporation whilst disqualified.

Scott was previously disqualified from managing corporations for 25 years, until 2 December, 2037 and permanently banned from providing any financial services following court orders obtained by ASIC in 2012.

Scott appeared in the Downing Centre Local Court on 14 December, 2021, and was conditionally released on a two year bond with a $1,000 recognizance, under s20(1)(a) of the Crimes Act 1914.

Following an Australian Securities and Investments Commission (ASIC) investigation, it was alleged that between 5 August, 2019 and about 9 February, 2021, Scott:

  • Incorporated Driven by Results and acted as the company’s sole director, sole shareholder and sole employee;
  • Used Driven by Results to conduct business as a chauffeur driver; and
  • Opened and operated three bank accounts held in the name of Driven by Results while listed as the sole signatory.

In 2015, Scott was jailed for three years and 10 months for defrauding over 150 clients over two decades.

The matter was prosecuted by the Commonwealth Director of Public Prosecutions.

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 1 week 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 2 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 2 weeks ago

A Sydney-based financial adviser has been banned from providing financial services in the interest of consumer protection after failing to act on conduct concerns. ...

3 weeks 6 days 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 day 4 hours ago

ASIC has cancelled the AFSL of a $250 million Sydney fund manager, one of two AFSL cancellations announced by the corporate regulator....

3 weeks 4 days ago