Cairns pawnbroker, Cash Lenders Pty Ltd (Cash Lenders) and former director Colin Hulbert have been charged in relation to engaging in credit activity without a licence.
Mr Hulbert has also been charged with engaging in conduct that contravened an order banning him from engaging in any credit activities.
ASIC alleges between July 2015 and May 2020 Mr Hulbert and Cash Lenders issued pawn tickets which were in fact credit contracts as they included a term allowing Cash Lenders to take debt recovery action against customers for any unpaid debts.
Mr Hulbert, a former director of Cash Lenders, later became an employee at Cash Lenders where his wife remains a director.
Both Mr Hulbert and Cash Lenders have also been charged in relation to altering books which were supplied to ASIC in respect of its investigation.
The matters were heard in the Cairns Magistrates Court on 18 April 2023 and are adjourned to 13 June 2023.
The matter is being prosecuted by the Commonwealth Director of Public Prosecutions following an investigation by ASIC.
