ASIC permanently bans NSW adviser

24 January 2020

The Australian Securities and Investments Commission (ASIC) has permanently banned Nicholas Ellis who had been banned for six years in 2013 from providing financial services for dishonest conduct.

In October, 2019, Ellis was sentenced to three years imprisonment, to be served by way of an Intensive Correction Order, for fraud offences and following this conviction, ASIC decided to remove him permanently from the financial advice and credit industries.

He also pleaded guilty to making false or misleading statements to obtain money from clients and fraudulent misappropriation of client funds.

Ellis has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision, the corporate watchdog said.




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Dont worry Nicholas. Any of the big 4 banks will pick you up as a member of their board of directors once you have served your time. You'll need to scale up your crimes to ruin the lives of no famalies, however at least when you are employed by the bank you can be sure that you will never get in any trouble from ASIC or the courts (which are obvioysly already in your employ, along with the Dishonerable Kenneth Hayne)

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