Harts boss arrested on fraud charges
The founder and executive chairman of financial services group Harts Australasia, Steve Hart, faced the Brisbane Magistrates Court charged with 11 tax-related fraud offences this morning.
According to a Harts spokesperson the court appearance follows a night spent in custody by Hart after he was arrested overnight following a Federal Police investigation.
Hart was given bail until 2.15pm today and is due to face court again later today.
Hart is charged with one count of organised fraud, one count of defrauding the Commonwealth and the Australian Taxation Office, six counts of forgery and three counts of false pretences.
At this morning’s hearing, the Brisbane court heard that Hart has been under investigation for four years, with his company placed into provisional liquidation earlier this week after the Australian Securities and Investments Commission (ASIC) applied to have the group wound up.
Hart has also surrendered his passport to his solicitors as surety he will not exit the country however his solictor, Peter Nolan told the court that if Hart was likely to leave the country he would have already done so.
Nolan also told the court Hart needed to be able to fly overseas to Hong Kong and New Zealand but would give two weeks notice to authorities and would provide a return airfare and tell them where he would be staying.
Outside the court, Nolan would not make further comments citing that Hart’s legal advisers had yet to receive a full outline of the charge.
Recommended for you
The association has expressed its support for the Opposition’s commitment to making financial advice a “national priority”, alongside its bold target of reaching 30,000 advisers.
Australian investors are increasingly turning to financial advisers as their top source of information, with more than a third using them for investment guidance.
The number of advisers using the HUB24 platform has passed 5,000, with over 100 added in the latest quarter, thanks to a migration from ClearView.
AMP has cut its executive remuneration following shareholder pushback which sees chief executive Alexis George’s maximum-possible remuneration reduced by almost $1 million.
