Former adviser convicted of fraud

ASIC/fraud/court/ashley-grant-howard/

7 December 2022
| By Laura Dew |
image
image
expand image

A former Tasmanian-based financial adviser has been convicted of fraud.

Ashley Grant Howard, of Hobart, Tasmania pled guilty to two charges of using using false documents to obtain a financial advantage or cause a financial disadvantage in Downing Centre Local Court in Sydney.

Between July 2013 and April 2014, Howard used false off-market transfer forms to transfer shares in GPS Alliance Holdings Limited, BHP Billiton Limited and Aquarius Platinum Limited to himself and an associate. The transfers occurred without the knowledge or authority of the 14 owners of the shares.

Magistrate Covington remarked upon sentencing that Mr Howard was in a position of trust as a financial planner when he used the false documents and that his offending had a degree of sophistication.

He was sentenced to a 12-month community corrections order.

He had previously been permanently banned from providing financial services by the Australian Securities and Investments Commission (ASIC) in October 2016 for engaging in dishonest conduct, unrelated to the court case.

The Commonwealth Director of Public Prosecutions prosecuted the matter after a referral from ASIC.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

4 months 1 week ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

4 months 2 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

6 months 2 weeks ago

Commonwealth Bank has formally dropped to zero advisers following LGT Crestone’s acquisition of its advice arm – some six years on from the Hayne royal commission. ...

1 week 1 day ago

ASIC has issued a warning to financial advisers to ensure they are complying with client consent requirements when entering into ongoing fee arrangements....

1 week ago

ASIC has cancelled the AFSL of a Sydney-based advice firm, describing how it demonstrated “competency failures” in its activities. ...

2 weeks 2 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND