Adviser charged with 10 counts of SMSF fraud
Former financial adviser Brett Andrew Gordon has been charged with 10 counts of fraud relating to self-managed superannuation funds (SMSFs) to the total value of $975,600, following an investigation by the Australian Securities and Investments Commission (ASIC).
Gordon was director of Refocus Financial Group and Diverse Capital Management in the Sunshine Coast.
ASIC alleged that between 2015 and 2017, Gordon “dishonestly caused a detriment to the trustees of six self-managed superannuation funds (SMSFs) by withdrawing a total of $502,000 from the SMSF bank accounts without authorisation”.
The watchdog also alleged that between 2016 and 2018, Gordon dishonestly paid $473,600 in personal debts and expenses, as well as Refocus business expenses, from funds belonging to Diverse.
Those funds had been invested by SMSF clients for the purpose of participating in property development activities to generate a return.
The matter had been adjourned to 25 September, 2020, for further mention in the Maroochydore Magistrates Court. It is being prosecuted by the Commonwealth Director of Public Prosecutions following a referral from ASIC.
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