Debenture issuer charged over alleged fraud
The chief executive of collapsed debenture issuer, Wickham Securities Limited, Garth Peter Robertson, will face Brisbane Magistrates Court next month on multiple fraud charges.
Robertson was released on bail, following an appearance at Brisbane Magistrates Court this morning, where he appeared on 10 counts of fraudulently obtaining more than $760,000 from Wickham Securities between December 2010 and November 2012, and a further count of fraudulently obtaining $15,000 from Balmain NB Corporation Limited in November 2010.
He was also charged with nine counts of giving or permitting the giving of false information about Wickham Securities to its trustee, Sandhurst Trustees Limited, and one count of falsifying books relating to the company's affairs in 2012.
The Brisbane-based firm was placed in administration in December 2012, before entering liquidation in February 2013, owing more than $27 million to approximately 300 debenture holders.
In September 2013, the Australian Securities and Investments Commission (ASIC) banned Wickham Securities chairman, Bradley Sherwin from providing financial services for two years an seven months, as a result of his bankruptcy.
While the regulator cancelled the registration of Wickham's auditor, Brian Kingston, after forming the view that he failed to carry out or perform adequately and properly the duties of an auditor.
AUTHOR
Nicholas O'Donoghue
Recommended for you
Shaw and Partners’ new national head of private wealth believes the biggest challenge for financial advisers right now is being able to deliver efficient advice delivery amid a complex regulatory environment and growing investment universe.
Global equity manager Orbis Investments has appointed a head of marketing from Capital Group as it becomes the latest manager to target advised retail investors.
While Australia prepares for the $3.5 trillion intergenerational wealth transfer, two female advisers have discussed why women may be detracted from seeking advice and the impact of the gender imbalance in the industry.
ETF provider Betashares has launched a global bond ETF as investors pour billions into cash and fixed income ETFs.
