Sunshine Coast property promoter faces criminal charges
A Sunshine Coast property promoter has been charged with six counts of dishonestly inducing people to purchase financial products by deliberately concealing significant facts.
The charges follow an Australian Securities and Investments Commission (ASIC) investigation into the illegal property scheme QN Plan.
Garry McDowell, who in conjunction with the Quality Network group of companies promoted the QN Plan, appeared before the Queensland Magistrate Court yesterday on the six criminal charges.
It is believed the offences occurred between January and May, 2004, on the Sunshine Coast and in Brisbane.
The QN Group was successfully liquidated in June, 2004, and the illegal property scheme being promoted by the group was wound-up at the same time.
The QN Group operated from a main office in Caloundra, and had branches in Mount Gravatt and Maroochydore in Queensland.
McDowell has been granted bail and the case has been adjourned until October 19, 2006.
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