Bradley Thomas Sherwin, Chairman of Wickham Securities Limited and Principal of Sherwin Financial Planners Pty Ltd, faced court today charged with various fraud offences following an investigation by ASIC.
Mr Sherwin, 60, of Everton Hills, Queensland appeared in the Brisbane Magistrates Court charged with 33 counts of dishonestly causing detriment totalling nearly $10 million between May 2009 and December 2012. The charges relate to the use of self-managed superannuation funds of former clients of Sherwin Financial Planners.
Mr Sherwin was also charged with one count of dishonestly breaching his duties as a director of Wickham Securities Limited between November 2009 and October 2010.
Mr Sherwin was not required to enter a plea and was granted conditional bail.
The matter will return to the Brisbane Magistrates Court on 23 July 2015.
The Commonwealth Director of Public Prosecutions is prosecuting the matter.
Background
Wickham Securities collapsed owing more than $27 million to approximately 300 debenture holders. It was placed into administration in December 2012 and liquidation in February 2013, with Messrs Grant Sparks and David Leigh of PPB Advisory as liquidators.
Sherwin Financial Planners was placed into administration in January 2013 and liquidation in February 2013, along with other companies of which Mr Sherwin was a director, including Reacroft Pty Ltd, Astor Funds Pty Ltd and Blue Diamond Investments Pty Ltd. Messrs Stefan Dopking, Quentin Olde and Michael Ryan of FTI Consulting (previously Taylor Woodings) were appointed as liquidators of those companies, which collapsed owing more than $30 million to clients of Sherwin Financial Planners.
The liquidator of Sherwin Financial Planners received funding from ASIC via the Assetless Administration Fund to prepare a detailed report on their investigation into the company.
In September 2013, ASIC banned Mr Sherwin from providing financial services for two years and seven months as a result of his bankruptcy (refer: 13-247MR).
In April 2015 the former chief executive of Wickham Securities, Garth Peter Robertson, was charged with fraud (refer: 15-091MR).
In June 2013, ASIC cancelled the registration of the auditor of Wickham Securities, Brian Kingston, after forming the view he failed to carry out or perform adequately and properly the duties of an auditor (refer: 13-156MR).
Editor's note 1:
On 23 July 2015, the matter was adjourned for mention to 17 September 2015 and bail was continued.
Editor's note 2:
On 17 September 2015, the matter was adjourned for mention to 19 November 2015 and bail was continued.
Editor's note 3:
On 19 November 2015, the matter was adjourned to 21 January 2016.
Editor's note 4:
On 21 January 2016, the matter was adjourned to 12 February 2016 for further mention.
Editor's note 5:
On 12 February 2016, the matter was listed for a committal hearing for cross examination of crown witnesses on 28 April 2016.
Editor's note 6:
The matter was brought forward to 19 February 2016, where the committal hearing date was listed for 20 June 2016.
Editor's note 7:
At a hearing on 20 June 2016, Mr Sherwin was committed to stand trial on the 34 charges in the Brisbane District Court on a date to be fixed. Mr Sherwin was allowed bail on the same conditions.
Editor's note 8:
On Friday 16 December 2016, Mr Sherwin was indicted on all charges in the Brisbane District Court. The matter has now been listed for mention on 1 February 2017. Mr Sherwin was not required to enter a plea and remains on conditional bail.
Editor's note 9:
On 1 February 2017, the matter was listed for a six week trial to commence on 18 September 2017 in the Brisbane District Court. There will be pre-trial mentions of the matter on 30 March 2017 and again on 8 September 2017. Mr Sherwin remains on conditional bail.
Editor's note 10:
The matter was mentioned in Brisbane District Court on 4 August 2017. The charges will be mentioned again on 28 August 2017 in the Brisbane District Court and the trial is listed to begin on 18 September 2017.