Sam Henderson pleads guilty to qualification dishonesty
Former adviser and Royal Commission witness Sam Henderson has pleaded guilty to a ‘rolled up’ charge of dishonest conduct regarding his qualifications.
Dishonest conduct was an offence under section 1041G of the Corporations Act 2001, and he was also charged with two counts of making a disclosure document available when it was known to be defective.
The Australian Securities and Investments Commission (ASIC) found between 1 July, 2010, and November 2017, Henderson falsely stated he had a Master of Commerce and this information appeared on 115 client presentations, brochures and websites for his company Henderson Maxwell.
The claim also appeared in:
- A book titled ‘One-Page Financial Plan: Everything you need to successfully manage your money and invest for wealth creation’ authored by Henderson and published in 2013;
- An interview conducted by a freelance writer, and a subsequent marketing profile prepared on Henderson to promote the Sydney Graduate School of Management (SGSM) Master of Commerce (Financial Planning) course; and
- Some of Mr Henderson’s professional biographies and descriptions.
A dishonest conduct offence under s1041G of the Corporations Act 2001 carried a maximum penalty in the local court of two years’ imprisonment or a fine not exceeding 120 penalty units, or both.
In July 2019, Henderson was banned by ASIC from providing financial services for three years after it was found he failed to act in the best interest of his clients, provide appropriate advice and prioritise his clients' interests when providing advice.
Henderson would be sentenced in the Downing Centre Local Court on 13 October 2020.
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