Disqualified director convicted
A Melbourne man who managed an investment-related company while disqualified from running a corporation has been convicted and sentenced to perform 150 hours unpaid community work following charges initiated by the Australian Securities and Investments Commission (ASIC).
The man, Stephen Mark O’Neill, pleaded guilty to managing Melbourne companies Money for Living (Australia) Pty Ltd and MFL Property Holdings Pty Ltd while disqualified between July 12, 2004, and October 20, 2005.
O’Neill had been sentenced to four years’ imprisonment with a non-parole period of three years in July 2001 after being convicted of contraventions of the Corporations Law and the Victorian Crimes Act.
As a result of those earlier convictions, O’Neill was automatically disqualified from managing a corporation for a period of five years from the date on which he was released from prison.
AUTHOR
Mike Taylor
Recommended for you
ASIC has cancelled the AFSL of global advisory group Brite Advisors after compensation was paid to an individual by the Compensation Scheme of Last Resort.
Having taken some “quite tough medicine” during its 18-month transformation program, Iress is now doubling down on organic growth in the delivery of its wealth technologies.
The RIAA Conference Australia 2025 will take place later this month, featuring a range of sessions designed for financial advisers.
The month of April enjoyed four back-to-back weeks of growth in financial adviser numbers, with this past week seeing a net rise of five.
