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18/06/19

08:54

Post #: 39104955
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Originally posted by Freddyray: ↑

FormerMFS CFO hit with 26 fraud charges
LiamWalshReporter
Jun 4, 2019

Australia’scorporate watchdog has laid its first criminal charges involving failed fundsmanagement outfit MFS, levelling 26 fraud charges against the Gold Coastcompany's former chief financial officer.
The allegation is that David MarkAnderson defrauded a subsidiary of MFS, later called Octaviar, of $4.6 million– years after the main operation collapsed in the global financial crisis.
The Australian Securities andInvestments Commission detailed the charges on Tuesday and said Mr Anderson wasreleased on bail, with the matter adjourned to Southport Magistrates Court inSeptember.
Mr Anderson was heralded by MFSin 2007 as someone who had worked in accounting for 20 years and was a formerKPMG partner. Its accounts said he had earned almost $2.7 million in 2007– a large chunk of that in MFS equity – but the next year the businesscollapsed owing $2.5 billion.
Mr Anderson remained listed assole director of Octaviar Investment Holdings No 3, a subsidiary.
ASIC saidMr Anderson, 59, of the Gold Coast, is accused of dishonestly applying$4.6 million of the subsidiary’s money for his own use between June 2012and September 2015.
ASIC obtained orders in 2017 towind up the subsidiary and other companies.
Property records show Mr Anderson’s lastrecorded Gold Coast home was sold in for $1.02 million in 2017.

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https://asic.gov.au/about-asic/news-centre/find-a-media-release/2019-releases/19-141mr-queensland-lawyer-found-to-have-given-false-or-misleading-information-to-asic/?fbclid=IwAR109wvEJnER7_ay0b8HKUtk1ZIqzlEBGEF3RJDG-s5FHRtIBl2cISvS5uk

OCV Price at posting: 0.0¢ Sentiment: None Disclosure: Held
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