Motivational speaker and investment spruiker charged
Former high-profile motivational speaker, Christopher Koch, has been found guilty in the Melbourne County Court of charges brought by the Australian Securities and Investments Commission (ASIC).
Koch was found guilty on Friday, 11 June 2010, after a nine-week trial on 15 counts of obtaining property by deception and seven counts of obtaining a financial advantage by deception, totalling over $1.1 million.
He was also charged with one count of making an offer or invitation in a prescribed interest scheme totalling more than $1.7 million.
Between 1996 and 1999, Koch promoted a fictitious, international, high-yield investment program in which investors were told they would receive returns of between 50 and 150 per cent in as little as 90 days. ASIC investigation revealed that he used most of the funds for his own purposes.
Koch has been remanded in custody to a date to be fixed for sentencing.
On the same day, ASIC permanently banned Steven James Ker from Western Australia from providing financial services.
Investigation revealed that between 18 December 2006 and 31 December 2008, Ker had engaged in dishonest conduct by repeatedly representing to clients that they had insurance policies in place when they did not exist, exposing clients to potential losses.
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