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
A new advice licensee set up by former WT Financial advisers has helped financial adviser numbers return above the 15,600 mark this week.
Two separate studies have discovered the majority of advised clients prefer to pay a flat fee for financial advice, while unearthing how much they are willing to pay for the service.
Financial services software Iress and digital community platform Ensombl have partnered up to strengthen the technology skills of financial advisers and paraplanners through a new initiative.
The corporate regulator has commenced “urgent” Federal Court proceedings against a Brisbane-based financial adviser in connection to financial advice and activities on client trading accounts.