On 23 April 2021, Mr Rahul Goel, of Success, Western Australia, appeared before the Perth Magistrates Court charged with a further 12 counts of dishonest conduct and three counts of false certification of documents that occurred between November 2018 and July 2019.

These charges are in addition to the four counts of dishonest conduct laid by ASIC in September 2020 (20-231MR).

ASIC alleges Mr Goel contravened the Corporations Act by engaging in dishonest conduct while carrying on a financial services business via his company AR Wealth and Finance Pty Ltd. If convicted, each offence carries the following penalties:

• for each count of dishonest conduct, a maximum penalty of either 10 or 15 years imprisonment;
• for each count of false certification of documents, a maximum penalty of 7 years imprisonment.

The matter is being prosecuted by the Commonwealth Director of Public Prosecutions (CDPP) following an investigation and brief from ASIC and has been adjourned to 18 June 2021 for further mention.

Background

On 1 October 2020, Mr Goel first appeared before the Perth Magistrates Court charged with four counts of dishonest conduct (20-231MR).

Editor's note:

On 18 June 2021, the matter was adjourned to 30 July 2021.

Editor's note 2:

The matter has been adjourned for mention until 13 August 2021.

Editor's note 3:

The matter was before the Perth Magistrates court for mention on 13 August 2021, and has been adjourned for further mention on 8 October 2021.

Editor's note 4:

The matter was adjourned to 5 November 2021 when the CDPP will apply for a committal hearing.

Editor's note 5:

The matter has been adjourned to 17 December 2021.

Editor's note 6:

The matter has been adjourned to 28 January 2022.

Editor's note 7:

On 28 January 2022, the matter was adjourned to 25 February 2022.

Editor's note 8: 

On 25 February 2022, the matter was adjourned to 11 March 2022.

Editor's note 9:

The defendant was committed to appear in the Perth District Court on 6 May 2022 for a date to be fixed for sentencing submissions.

Editor's note 10:

On 6 May 2022, the charges were listed for sentence in the Perth District Court on 13 September 2022.

Editor's note 11:

Sentencing submissions were made at the Perth District Court on 13 September 2022. The sentencing hearing has been adjourned until 13 December 2022.

Further, with the consent of the parties, the Federal Court made orders on 13 September 2022 permitting Mr Goel to repay 20 aggrieved persons.

Editor's note 12:

On 13 December 2022, former financial adviser Rahul Goel was sentenced in the Perth District Court for dishonestly obtaining over $35,000 from his clients’ superannuation accounts (refer: 22-355MR).