Broker banned by ASIC will face court on fraud charges
9 March 2023
A former broker banned by the Australian Securities and Investments Commission (ASIC) for misappropriating premiums is set to appear in court on fraud charges later this year.
A directions hearing on charges of dishonestly obtaining financial advantage by deception is scheduled for July 6 at Newcastle District Court, ahead of an expected trial in September.
ASIC found that Justin Edward Hampshire of Sydney engaged in dishonest conduct between November 2015 and April 2019 while acting in his capacity as an authorized representative (AR) of Ausure Pty Ltd and as the sole director and shareholder of Balanced Risk Pty Ltd, a corporate AR of Ausure.
The regulator said that Mr.
ASIC found that Mr Hampshire was not a fit and proper person to provide financial services, control an entity carrying on a financial services business, or perform any role involved in the conduct of a financial services business, and likely conflict with a financial service. law
Mr Hampshire has the right to appeal to the Administrative Appeals Tribunal for a review of the decision.
Ausure MD Troy Brown said the matter was in the NSW court and the company could not comment further.
“A long time has passed since we reported the matter and we are pleased to hear that the banning order has been issued by ASIC,” he told the insuranceNEWS.com.au.
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