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Thursday 24 March 2016

16-094MR Former stockbroker charged in relation to dishonest use of client funds

Following an ASIC investigation, Mr Lewis Anthony Wright Fellowes, of Perth, Western Australia, has appeared in the Brisbane Magistrates Court charged with three counts of dishonestly applying to his own use money belonging to another totalling $1,595,000.

Mr Fellowes, a stockbroker, was charged with these offences following an investigation by ASIC into, amongst other things, Mr Fellowes' conduct in dealing with the margin loan accounts of Queensland clients over the period October 2008 to July 2010.

It is alleged Mr Fellowes dishonestly obtained money from his Queensland clients' margin loan accounts and used those funds for his own purposes.

Mr Fellowes was not required to enter a plea and was granted conditional bail.  This matter is listed for return at the Brisbane Magistrates Court on 13 May 2016.

The Commonwealth Director of Public Prosecutions (CDPP) is prosecuting this matter.

Background

The charges, under the Queensland Criminal Code, of dishonestly applying property valued at more than $30,000 carries a penalty of up to 12 years imprisonment.

The matter was in Court on Friday 18 March 2016.

Editor's note 1:

At a hearing on 19 August 2016, the matter was adjourned until 19 December 2016.

Editor's note 2:

On 19 December 2016 the matter was adjourned until 10 March 2017. 

Editor's note 3:

On 23 April 2017, the CDPP handed up amended charge sheets to three charges under s184(2)(a) of the Corporations Act. Mr Fellowes indicated his intention to the Court to plead guilty to these charges. The matter has been adjourned until 16 June 2017.

Editor's note 4:

On 21 June 2017, Mr Fellowes formally pleaded guilty to three charges under s184(2)(a) of the Corporations Act. The matter has been set down for sentencing on 1 November 2017.

 

Last updated: 24/03/2016 12:00