Adviser charged with 12 counts of dishonest conduct
Financial adviser Rahul Goel has been charged with 12 counts of dishonest conduct and three counts of false certification of documents by the Perth Magistrates Court, in addition to four counts of dishonest conduct laid by the corporate regulator.
The Australian Securities and Investments Commission (ASIC) said the adviser of Success in Western Australia contravened the Corporations Act by engaging in dishonest conduct while carrying on a financial services business through his company AR Wealth and Finance.
If Goel was convicted:
- For each count of dishonest conduct, he would receive a maximum penalty of either 10 or 15 years imprisonment; and
- For each count of false certification of documents, he would receive a maximum penalty of seven years imprisonment.
The matter had been adjourned to 18 June, 2021.
Recommended for you
Centrepoint Alliance has overtaken Count as the second largest AFSL with more advisers in the pipeline and strong EBITDA growth predictions for FY2026.
ASIC has released an update to its regulatory guidance on managing conflicts of interest for financial services businesses on the back of its primate markets surveillance.
Sequoia Financial Group has flagged a series of non-cash impairments for the first half of FY26, citing exposure to Shield and First Guardian and provisions for potential professional indemnity insurance claims.
The Australian Wealth Advisors Group has completed two strategic investments, doubling its number of authorised representatives and increasing its FUMA by more than $1 million.
