The Australian Securities and Investments Commission (ASIC) has pursued another early-release superannuation prosecution relating to the Kassongo Superannuation Fund and involving the benefits of 192 superannuants.
A NSW man, Sonatane Haitoni Hafoka (also known as Tane Hafoka, Jonathan Hafoka and Johnny Hafoka) has appeared in Sydney’s Downing Centre local court on a charge brought by the regulator under the Superannuation Industry Supervision Act and the criminal code.
According to ASIC, Hafoka was charged with aiding and abetting the trustee of the self-managed Kassongo Superannuation Fund (KSF), Atan Kassongo, in dishonestly failing to ensure the fund was maintained in accordance with the sole purpose test.
ASIC alleges that the preserved superannuation benefits of 192 superannuants, totalling $4,055,043, were deposited into the bank accounts of the KSF. These funds were rolled over from 56 complying superannuation funds. Kassongo then allegedly used the KSF to obtain early access to these benefits by withdrawing and distributing the funds to the superannuants and agents engaged by him to assist in the unlawful early release scheme.
It is alleged by ASIC that between February 1 and December 21, 2006, Hafoka acted as an agent of Kassongo and assisted at least 80 superannuants in rolling over their superannuation to the KSF. In return, Hafoka received commissions in excess of $300,000.
The charge against Hafoka follows an investigation conducted by ASIC with the assistance of the Australian Taxation Office.
Hafoka has been committed to appear at the District Court on March 20, 2009, and was granted bail on conditions including that he maintain his current residence, surrender his passport, and not leave Australia.
Kassongo has also been charged and is due to next appear before the District Court on March 27, 2009.
