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.

Thursday 22 July 2021

21-184MR Former Queensland property developer Craig Gore unsuccessful in criminal appeal

The Queensland Court of Appeal has dismissed an appeal by Mr Craig Kirrin Gore against his conviction on six counts of fraud. 

In November 2020, Mr Gore was sentenced to five years prison with a non-parole period of two years, after being found guilty of the fraud charges (20-299MR).

Mr Gore lodged an appeal in November 2020 and that appeal was heard in February 2021.

The Court of Appeal found it was open to the trial judge to convict on the six counts of fraud and that the evidence demonstrated Mr Gore had continued to secure funds from the investors after December 2013 without disclosing there was no real prospect of them being repaid.

Mr Gore was initially arrested on 14 April 2017 and charged with 12 counts of fraud relating to funds obtained from investors during 2013 and 2014. ASIC alleged Mr Gore obtained funds from self-managed superannuation fund (SMSF) investors through his role at Arion Financial Pty Ltd (Arion) by representing that the investors could invest in debentures, with various promises that included a guaranteed return, high returns, and that the funds could be returned after a short-term period of investment (17-11MR).

In October 2020, Mr Gore was found guilty of six counts of fraud. The Queensland District Court found Mr Gore was aware of the poor financial state of Arion at the time representations were made and that there was no real prospect of Arion repaying the invested amounts or the interest (20-258MR).

Mr Gore has been serving his sentence since he was remanded in custody in October 2020.

The matter was prosecuted by the Commonwealth Director of Public Prosecutions.


Mr Gore is facing three further charges of acting in the management of three corporations (MOGS Pty Ltd, Sleipner Financial Pty Ltd and Arion) whilst disqualified from doing so. These charges did not form part of the fraud trial and will return to the Queensland Magistrates Court for mention on 20 August 2021 following delivery of the appeal judgement.

Each charge of acting in the management of corporations whilst disqualified carries a maximum penalty of one year imprisonment or fine up to $8500.

Last updated: 22/07/2021 11:22