Burnard sentence appealed
The Commonwealth Director of Public Prosecutions (CDPP) is not satisfied with the sentence handed to former Westpoint promoter Neil Burnard and has lodged an appeal in the NSW Court of Criminal Appeal.
The CDPP will appeal against the “leniency of the sentence” imposed on Burnard while Burnard continues to try to prove his innocence.
The Sydney man was sentenced in August in the NSW District Court to 12 months imprisonment, which was suspended with a good behaviour bond for those 12 months. He was fined $50,000. But while the CDPP and the Australian Securities and Investments Commission (ASIC) are making clear their disappointment with the outcome of the trial, Burnard yesterday said he intends to appeal against his conviction. ASIC said it asked the CDPP to consider lodging an appeal on the day Burnard was sentenced.
In May this year a jury found Burnard guilty of nine criminal charges arising from ASIC’s investigation into the affairs of Kebbel Pty Ltd, now known as Palentia Pty Ltd, which formed part of a broader inquiry into the collapse of the Westpoint group.
The matter will return to court on November 6, 2008.
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.