Former Nexus director pleads guilty
Former director of Nexus Financial Planning, Wael Kourieh, has plead guilty to false document changes, by forging member signatures on AMP superannuation forms to trick AMP employees into giving commissions.
On 9 July, 2021, Kourieh pleaded guilty to one count of making false documents and one count of using false documents under the Crimes Act 1900 (NSW) in the Parramatta Local Court of NSW.
Nexus purchased a client book for SuperLeader, an AMP corporate superannuation product where employers and employees could become members.
Nexus received trail commissions from AMP in relation to each super member in the SuperLeader client book.
ASIC alleged that between about 1 September, 2015, and about 10 November, 2015, Kourieh:
- Made false documents by forging 30 member signatures on AMP superannuation investment election forms with the intention of inducing AMP employees to accept them as genuine to obtain a financial advantage, namely commissions from AMP; and
- Used false documents, being the 30 AMP superannuation investment election forms, knowing them to be false, intending they be used to induce AMP employees to accept them as genuine, to obtain a financial advantage, namely commissions from AMP.
The maximum penalty for these offences was imprisonment of two years, a fine of $11,000 or both.
The matter is being prosecuted by the Commonwealth Department of Public Prosecutions and was listed for sentencing on 6 August, 2021.
AUTHOR
Chris Dastoor
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