Adelaide adviser charged with falsifying company books
27 June 2022
The corporate regulator says Adelaide adviser Tai Thanh Nguyen, whom it banned permanently in 2019 for dishonest conduct including allowing incorrectly witnessed binding nomination forms to be submitted to insurers, has been charged with seven counts of alleged falsification of company books.
He was charged in the Adelaide Magistrates Court last Friday following an investigation by the Australian Securities and Investments Commission (ASIC).
This matter is being prosecuted by the Commonwealth Director of Public Prosecutions following a referral by ASIC.
ASIC alleges that on seven occasions, between about February 2010 and December 2018, he falsified company books while carrying out his financial planning and advice business.
The regulator further alleges that he 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 (AR) of the Australian financial services licensees.
Since August 5 2015 he has been an AR of Interprac Financial Planning and before that he was an AR of GWM Adviser Services from December 6 2011 to August 4 2015. And prior to GWM, he operated Financial Wealth Advisers from around July 2005.
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.