Ms Rosalyn Hillary Lapsley, of Double Bay, New South Wales, appeared in the Downing Centre Local Court today in relation to seven charges under the Corporations Act 2001 and NSW Crimes Act 1900 arising from an investigation by the Australia Securities and Investments Commission (ASIC).

ASIC alleges that between 24 April 2001 and 31 October 2002 Ms Lapsley, an accountant, operated a financial services business without a licence.

It is also alleged that while operating an unlicensed financial services business, Ms Lapsley recklessly made false statements to a number of investors to encourage them to invest in two separate investment schemes known as J&R Trust, and Project and Management Holdings.

Some of these investors were clients of Ms Lapsley’s accountancy business.

The matter has been adjourned to 22 March 2005 for further mention, and is being prosecuted by the Commonwealth Director of Public Prosecutions.