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The corporate regulator has charged an Adelaide financial adviser with seven counts of falsifying company books.
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ASIC circles adviser over alleged falsification of company books
28 June 2022
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Tai Thanh Nguyen has been charged with seven counts of alleged falsification of company books following an ASIC investigation based on activity between February 2010 and December 2018.
During this time, ASIC alleges that Mr Nguyen falsified company books on seven occasions while operating his financial planning and advice business.
“Mr Nguyen operated a financial services business, Financial Wealth Advisers Pty Ltd from around July 2005. From 6 December 2011 to 4 August 2015, Mr Nguyen was an authorised representative of GWM Adviser Services Limited, and since 5 August 2015, he has been an authorised representative of Interprac Financial Planning Pty Ltd,” the corporate regulator said.
“ASIC alleges that on seven occasions, between about February 2010 and December 2018, Mr Nguyen falsified company books while carrying out his financial planning and advice business.
“It is further alleged that Mr Nguyen inserted signatures and dates and altered documents relating to two of his clients, to look like he was compliant with his obligations as an authorised representative of the Australian financial services licensees.”
The matter is being prosecuted by the Commonwealth Director of Public Prosecutions following a referral by ASIC and is expected to be heard in the Adelaide Magistrates Court on 5 August 2022.
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According to ASIC, the maximum penalty for each charge is two years’ imprisonment and/or 100 penalty units.
“When dealt with summarily the maximum penalty is 12 months’ imprisonment and/or 60 penalty units,” it said.
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