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Friday 18 December 2015

15-399MR ASIC permanently bans former WA bank manager

ASIC has permanently banned Mr Darren Jason Arnold from providing financial services and engaging in credit activities.

Until April 2014, Mr Arnold was the Bank Manager of Westpac Banking Corporation in Northbridge Western Australia.

Between December 2013 and March 2014, Mr Arnold used his position as a bank manager to make unauthorised withdrawals from various bank accounts in a friend's name, totalling $515,000. ASIC banned Mr Arnold after he was convicted and sentenced in August 2015, in separate proceedings in the District Court of Western Australia, of nine counts of stealing as a servant and one count of gaining a benefit by fraud.

Under the Corporations Act 2001 and National Consumer Credit Protection Act 2009, ASIC may ban anyone who is convicted of fraud.

Mr Arnold has the right to lodge an application for review of ASIC's decision with the Administrative Appeals Tribunal.

Last updated: 30/03/2021 09:39