Joshua Fuoco has been charged with three counts of managing a corporation whilst disqualified, as well as an additional charge of failing to deliver company records in his possession for Wealth and Risk Management (WRM).
The Melbourne resident was charged following an investigation from the Australian Securities and Investments Commission (ASIC).
In 2016, ASIC disqualified Fuoco from managing corporations for two years and six months after two companies – FP Investment Partners and Equilibrium FS – were wound up.
ASIC alleged that during his period of disqualification, Fuoco continued to manage another company, Financial Circle, between 21 August, 2017, and 5 September, 2018.
WRM had its Australian financial services licence (AFSL) revoked in 2018, after the Federal Court found the company had breached numerous financial services laws and obligations.
After being initially charged on 27 May, 2020, Fuoco’s matter was listed for first mention in the Melbourne Magistrates Court on 5 November, 2020, which was later adjourned to 28 April, 2021.
Fuoco was not required to enter a plea and the Commonwealth Director of Public Prosecutions would prosecute these matters following the referral from ASIC.
