Vic adviser takes five-year ban over false loan docs
A Victorian adviser has been banned from providing financial services for five years after falsely witnessing loan applications for agribusiness investments.
The Australian Securities and Investments Commission (ASIC) found that Nancy Karin Keep engaged in misleading or deceptive conduct when she falsely witnessed applications for loan documentation in forestry products, as well as applications for powers of attorney.
The Mount Waverly adviser was also found to have “acted recklessly in relation to whether the documents had been forged prior to receiving and signing them", a statement from the regulator said.
As a result of Keep’s actions, ASIC said other parties “improperly received” around $5 million in commissions based on applications for woodlots in managed investment schemes.
Keep was a director of NK Financial Services at the time. The regulator’s investigations into the matter are continuing.
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