Sydney accountant in court over investment schemes
A Sydney accountant who operated a financial services business without a licence appeared in court yesterday on seven charges resulting from an investigation by the Australian Securities and Investments Commission (ASIC).
The arraignment of Rosalyn Hillary Lapsley, of Double Bay, in the Downing Centre Local Court related to charges made against her under the Corporations Act 2001 and NSW Crimes Act 1900.
Lapsley is alleged to have misled clients into investing in two investment schemes between April 2001 and October 2002 without a financial services licence.
She allegedly made "reckless false statements" to a number of investors to encourage them to invest in the schemes, known as J&R Trust and Project and Management Holdings.
Some of these investors were clients of Lapsley’s accountancy business.
The hearing was adjourned to March 22.
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