Former ANZ AR convicted
Former authorised representative of ANZ-owned Millenium3, Melinda Scott (also known as Melinda Fletcher), has been convicted of managing a corporation whilst disqualified.
Scott was previously disqualified from managing corporations for 25 years, until 2 December, 2037 and permanently banned from providing any financial services following court orders obtained by ASIC in 2012.
Scott appeared in the Downing Centre Local Court on 14 December, 2021, and was conditionally released on a two year bond with a $1,000 recognizance, under s20(1)(a) of the Crimes Act 1914.
Following an Australian Securities and Investments Commission (ASIC) investigation, it was alleged that between 5 August, 2019 and about 9 February, 2021, Scott:
- Incorporated Driven by Results and acted as the company’s sole director, sole shareholder and sole employee;
- Used Driven by Results to conduct business as a chauffeur driver; and
- Opened and operated three bank accounts held in the name of Driven by Results while listed as the sole signatory.
In 2015, Scott was jailed for three years and 10 months for defrauding over 150 clients over two decades.
The matter was prosecuted by the Commonwealth Director of Public Prosecutions.
AUTHOR
Chris Dastoor
Recommended for you
Licensing regulation should prioritise consumer outcomes over institutional convenience, according to Assured Support, and the compliance firm has suggested an alternative framework to the “licensed and self-licensed” model.
The chair of the Platinum Capital listed investment company admits the vehicle “is at a crossroads” in its 31-year history, with both L1 Capital and Wilson Asset Management bidding to take over its investment management.
AMP has settled on two court proceedings: one class action which affected superannuation members and a second regarding insurer policies.
With a large group of advisers expecting to exit before the 2026 education deadline, an industry expert shares how these practices can best prepare themselves for sale to compete in a “buyer’s market”.
