Woman charged in relation to SMSF investments
A woman has been charged in relation to dishonestly obtaining money through self-managed superannuation fund (SMSF) property investments, following an investigation by the Australian Securities and Investments Commission (ASIC).
Sydney-sider, Sarah Jane Busteed, appeared in the Downing Centre Local Court in Sydney, charged with three counts of dishonestly obtaining a financial advantage by deception and one count of dealing with over $100,000 that was the proceeds of the crime.
It was alleged that Busteed dishonestly obtained monies from those SMSFs, and separately dealt with monies obtained from an SMSF which are believed to be proceeds of the crime.
The Commonwealth Director of Public Prosecutions is prosecuting these matters.
Busteed was also charged with various other offences involving dishonestly obtaining financial advantage by New South Wales Police and those matters are being prosecuted by the NSW Director of Public Prosecutions.
In a statement, ASIC reported that the charges of dishonestly obtaining a financial advantage by deception contrary to section 192E of the NSW Crimes Act 1900 each carry a maximum penalty of ten years imprisonment, while the charge of dealing in the proceeds of crime contrary to section 400.4(1) of the Commonwealth Criminal Code carries a maximum penalty of twenty years imprisonment or a $216,000 fine or both.
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