Mr Andre Michalik, also known as Andre Tomaszewski, was today committed for sentence on six offences of engaging in dishonest conduct while carrying on a financial services business, following an investigation by ASIC. Mr Michalik was formerly of Oyster Bay, Sydney.

The alleged offences relate to the fraudulent withdrawals, on behalf of six clients, of superannuation savings totalling $415,636.09. Mr Michalik is alleged to have committed the offences between October 2003 and June 2004.

This action follows an ASIC investigation into newspaper advertisements which included slogans such as ‘superannuation cashback’.

ASIC alleges that in the period concerned Mr Michalik submitted documents to superannuation companies falsely stating that his clients were rolling their superannuation savings into another superannuation fund. ASIC alleges that Mr Michalik then intercepted the cheques from the superannuation companies, totalling $415,636.09, and deposited them into bank accounts he controlled. ASIC alleges that Mr Michalik retained approximately 30 per cent of this money and then transferred the rest into bank accounts nominated by the clients.

In December 2004, Mr Michalik, and his son, Mr Martin Michalik were jailed for 18 months and fined a total of $200,000 in the New South Wales Supreme Court following a finding of contempt of court brought by ASIC. This followed their arrest at Perth International Airport on 27 November 2004 and subsequent extradition to New South Wales.

Mr Andre Michalik is currently remanded in custody and will next appear on 10 March 2006 at the Sydney District Court.

The Commonwealth Director of Public Prosecutions is prosecuting the matter.