Adelaide councilor charged with falsifying company books

An Adelaide financial adviser has been charged with falsifying the company’s books following an investigation by the Australian Securities and Investment Commission (ASIC).

Tai Thanh Nguyen, who was previously banned by ASIC for dishonest conduct in 2019, was charged with seven counts of allegedly tampering with the company’s books.

He ran a business called Financial Wealth Advisers around July 2005. From December 6, 2011 to August 4, 2015, he was an Authorized Representative (AR) of GWM Adviser Services. Since August 5, 2015, he was AR of Interprac Financial Planning Pty Ltd.

ASIC alleged that between February 2010 and December 2018, he falsified the company’s books while carrying on the financial planning and advisory business.

It was further alleged that Nguyen inserted signatures and dates and altered documents relating to two of his clients, to give the impression that he was complying with his obligations as the RA of service licensees. Australian financiers.

The maximum penalty for each charge was two years imprisonment and/or 100 penalty units. In the event of summary treatment, the maximum penalty was 12 months’ imprisonment and/or 60 penalty units.

The case would continue in Adelaide Magistrates’ Court and was listed for retrial on August 5, 2022.

This case was being prosecuted by the Commonwealth Director of Public Prosecutions following a referral from ASIC.

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