ASIC media releases are point-in-time statements. Please note the date of issue and use the internal search function on the site to check for other media releases on the same or related matters.
18-360MR Dishonesty charges laid against former Melbourne financial planner
Mr Bradley Grimm, former Melbourne financial planner, has been charged with 13 dishonesty offences while running a financial services business. Mr Grimm appeared via counsel in the Melbourne Magistrates Court today.
ASIC alleges between 18 February 2015 and 11 March 2015, Mr Grimm engaged in dishonest conduct on six occasions when he transferred funds between his clients’ self-managed superannuation funds (SMSFs) to three separate companies of which Mr Grimm was the sole director:
- Thrive Lending Pty Ltd
- Trade BTC Pty Ltd; and
- Beta Pharmacology Pty Ltd;
and to a superannuation fund of which Mr Grimm’s financial services business was the administrator.
ASIC also alleges that on a further seven occasions between 19 October 2015 and 11 November 2015, Mr Grimm dishonestly transferred shares owned by his clients’ SMSFs to Equity Capital Partners Hedge Fund Pty Ltd, a company of which he was sole director.
The charges follow ASIC’s successful action in the Federal Court for the winding up of Ostrava Equities Pty Ltd, Ostrava Asset Management Pty Ltd, Ostrava Securities Pty Ltd, Ostrava Wealth Management Pty Ltd, Beta Pharmacology Pty Ltd, Prometheus Capital Pty Ltd, Thrive Lending Pty Ltd, Trade BTC Pty Ltd and Equity Capital Partners Hedge Fund Pty Ltd (the Companies) (15-308MR)
The matter was adjourned for committal mention on 31 January 2019 at the Melbourne Magistrates Court.
The Commonwealth Director of Public Prosecutions is prosecuting the matter.
Mr Grimm and his company Ostrava Equities Pty Ltd were until 21 October 2015 authorised representatives of Australian financial Services licensee Marigold Falconer International Limited (previously known as Falconer & Company Limited), whose AFSL was cancelled in August 2016 (16-259MR)