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SIC has disqualified the self-managed superannuation fund (SMSF) auditor registration of Gordon Victor Shrubsole, of Miranda, New South Wales, for breaching independence and auditing standards. Mr Shrubsole lacked independence when he audited a close family member’s fund. He was deficient in planning audits, failed to obtain sufficient appropriate audit evidence to support the valuation of …

ASIC disqualifies SMSF auditor for breaching independence and auditing standards Read More »

ASIC has applied to the New South Wales Supreme Court for the appointment of provisional liquidators to Semantic Software Asia Pacific Limited (Semantic). In particular, ASIC alleges that Semantic, an artificial intelligence development company based in North Sydney: – has failed to lodge financial statements with ASIC, failed to hold annual general meetings and failed …

ASIC applies to appoint provisional liquidators to Semantic Software Asia Pacific Limited Read More »

Mr Farmouz Farhaad Mohammed (also known as Fred Mohammed), of Hope Island, Queensland has been found guilty of three counts of fraud and sentenced to imprisonment. Mr Mohammed was the former director of Crane Trucks R Us Pty Ltd ACN 128 496 597 (Crane Trucks R Us) which operated a wet hire, road-based logistics and …

Former Gold Coast director jailed for fraud Read More »

Dimitrios (James) Podaridis, of Victoria, has been disqualified from managing companies for two years after his involvement in two failed companies. During various times between 2015 and 2018, Mr Podaridis was a director of two companies that went into liquidation: A.C.N. 605 261 603 Pty Ltd (ACN 605 261 603) (formerly known as Champion Beverages …

Victorian director disqualified from managing corporations Read More »

SIC has banned Brisbane-based former financial adviser Nathan Smith from providing financial services for three years. ASIC found that Mr Smith failed to provide financial advice that was appropriate and in the best interests of his clients. Mr Smith did not consider his clients’ existing products when making recommendations to switch products and did not …

ASIC bans former Brisbane adviser for three years Read More »

ASIC has banned Holly Marie Grofski, the director of Global Merces Funds Management Ltd (Global Merces), for a period of six months. ASIC’s banning order prohibits Ms Grofski from controlling, whether alone or together with others, any company or other entity that carries on a financial services business until 28 October 2021. An ASIC surveillance …

ASIC bans director of Global Merces Funds Management Ltd Read More »

Mr Ross Andrew Hopkins of Killara, NSW, has been sentenced in the District Court of New South Wales to a maximum period of six years’ imprisonment, with a non-parole period of four years. Following an ASIC investigation, Mr Hopkins, a former financial adviser, was convicted of 15 dishonesty offences under the Corporations Act, committed when …

Former Sydney financial adviser sentenced to six years imprisonment Read More »

Mr Alexander McCulloch, a former project manager at Beacon Minerals Limited (Beacon Minerals) and Mr Darryl Brian Mapleson, who provided geological services to the company, have both appeared in the Perth Magistrates’ Court today charged with insider trading. Mr McCulloch has been charged with two counts of insider trading after allegedly encouraging two associates to …

Insider trading charges against both the former Project Manager and the former Competent Person of ASX-listed gold explorer Read More »