ASIC lays 13 dishonesty charges on former planner

The Australian Securities and Investments Commission (ASIC) has charged former Melbourne financial planner, Bradley Grimm, with 13 dishonesty offences while running a financial services business.

The regulator alleged that Grimm, who appeared before the Melbourne Magistrates Court today, engaged in dishonest conduct on six occasions when he transferred funds between his clients’ self-managed superannuation funds (SMSFs) to three companies of which he was the sole director, and a superannuation fund of which Grimm’s business was the administrator.

ASIC also alleged that on a further seven occasions, Grimm dishonestly transferred shares owned by his clients’ SMSFs to Equity Capital Partners Hedge Fund, a company of which he was also the sole director.

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The charges followed ASIC’s successful action in the Federal Court for the winding up of several companies including the companies in question, Thrive Lending, Trade BTC, Beta Pharmacology and Equity Capital Partners Hedge Fund, and Grimm’s other companies, Ostrava Equities, Ostrava Asset Management, Ostrava Securities and Ostrava Wealth Management.

The matter was adjourned for committal mention on 31 January, 2019.

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