Fundamental adviser pleads guilty
A former authorised representative of bankrupt financial services firm Fundamental Group has pleaded guilty in Sydney’s Downing Centre Local Court to six counts of dishonest conduct and two of making false statements.
Peter Braun, based in the Sydney suburb of Rose Bay, is the third former authorised representative of Fundamental, which entered into voluntary administration in November last year owing investors about $1.3 million, to be brought before the courts.
The plea follows an investigation by the Australian Securities and Investments Commission (ASIC) that found Braun provided six investors with reports containing false and misleading information about the value of their investments over a 14-month period and made false instruments in relation to buy and sell contracts.
The matter has been adjourned until sentencing in the District Court on April 11.
Fellow former Fundamental authorised representatives Daniel Gara and Philip Allen, both of Sydney, have also been banned from providing financial services.
AUTHOR
Justin Knight
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