SMSF adviser faces charges of deception and misconduct
A self-managed superannuation fund adviser has appeared before the Downing Centre Local Court in Sydney, facing two counts of obtaining money by deception and one count of making a false or misleading statement in a document lodged with the Australian Securities and Investments Commission (ASIC).
The regulatory body alleged that Craig Gerard Dangar - who was employed by Sutherland-based accounting firm SMSF Consultants Pty Ltd between January 2004 and September 2007 - falsely claimed, in a document lodged with ASIC, that he was a company director in order to obtain a loan he required to purchase shares in Morris Finance Ltd (Morris).
He also gained a financial advantage of approximately $250,000 when recommending clients purchase shares in Morris by misrepresenting the true value of the shares.
Dangar was granted conditional bail and will return to court on 20 March 2012. The Commonwealth Director of Public Prosecutions is prosecuting the matter.
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Staff Writer
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