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Monday 4 July 2016

16-216MR Gold Coast former financial advisor and accountant charged with multiple counts of fraud involving approximately $800,000

Following an ASIC investigation, former financial adviser and accountant, Satvir Singh Birk, aged 40, of Reedy Creek, has today appeared in the Southport Magistrates Court charged with five counts of fraud involving approximately $800,000.

ASIC alleges that between September 2010 and October 2011, Mr Birk, whilst an authorised representative of Professional Investment Services Pty Ltd (Bundall), dishonestly caused a detriment to numerous clients.

The charges against Mr Birk carry a maximum penalty of up to 12 years imprisonment.

Mr Birk was released on various conditions, including that he reside at his current address and notify the Commonwealth Director of Public Prosecutions (CDPP) of any change of residence.

The matter was adjourned until 1 August 2016.

The CDPP is prosecuting the matter.

Background

In December 1999, Mr Birk became a partner of Sa & Birk Accountants Pty Ltd and later the Carter Group Pty Ltd, located in Brisbane and the Gold Coast.

In September 2007, Mr Birk was an authorised representative for Professional Investment Services Pty Ltd in Bundall and prior to this, was an authorised representative at Bongiorno Financial Advisers (Aust) Ltd AFSL No. 238976 (in liquidation).

In April 2014, Mr Birk's ceased his roles with Sa & Birk Accountants Pty Ltd, the Carter Group Pty Ltd and his authorised representative role with Professional Services Pty Ltd was revoked.

Editor's note 1:

Following the mention of the matter on 1 August 2016, the matter was adjourned until 7 November 2016.

Editor's note 2:

The matter has been adjourned for further mention until 16 December 2016.

Editor's note 3: 

Following mention before the court on 16 December 2016 the matter has, at the defendant's request, been adjourned for further mention until 15 May 2017.

Editor's note 4:

The matter was mentioned in the Southport Magistrates' Court on 15 May 2017 and adjourned until 7 August 2017. 

Editor's note 5:

The matter was mentioned in Southport Magistrates' Court on 7 August 2017. It is listed for a committal hearing on 2-3 November 2017 in the same court.

Editor's note 6:

On 2 November 2017, Mr Birk was committed to the District Court to stand trial on all charges. A trial date is yet to be fixed.

Editor's note 7:

The matter has been listed for arraignment on 17 May 2018.

Editor's note 8:

On 17 May 2018, the matter was mentioned before the Southport District Court and adjourned to 25 May 2018 for arraignment.

Editor's note 9:

On 25 May 2018, Mr Birk was arraigned in the Southport Court and pleaded guilty to 5 counts contrary to s184 of the Corporation Act.  The matter is listed for sentence on 31 October 2018.

Last updated: 04/07/2016 12:00