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21-208MR Court imposes conditional release on former director for falsifying documents
On 6 August 2021, Mr Wael Kourieh of West Ryde, NSW, appeared in the Parramatta Local Court of NSW having pleaded guilty to one count of making false documents and one count of using false documents under the Crimes Act 1900 (NSW).
The Court imposed a conditional release without conviction for a period of two years with the Magistrate taking into account Mr Kourieh’s remorse and cooperation with the investigation when handing down her decision.
ASIC’s investigation found in late 2015, Mr Kourieh:
- made false documents by forging 30 member signatures on AMP superannuation investment election forms with the intention of inducing AMP employees to accept them as genuine; and
- used the 30 false documents, knowing them to be false and intending they be used to induce AMP employees to accept them as genuine.
Mr Kourieh’s conduct was intended to obtain a financial advantage for himself via commissions from AMP.
The Commonwealth Director of Public Prosecutions prosecuted this matter after a referral from ASIC.
Mr Kourieh was a director of Nexus Financial Planning Pty Ltd, a financial planning practice in Sydney trading as Hillross Bella Vista, from 8 June 2010 until 14 March 2016.
Nexus purchased a client book for SuperLeader, an AMP corporate superannuation product where employers and employees could become members. Nexus received commissions (known as trail commissions containing investment and admin fees) from AMP for each super member in the SuperLeader client book. Mr Kourieh was responsible for generating new business and administering the SuperLeader client book.
The matter came to ASIC’s attention via a breach report lodged by AMP.