On 24 June 2022, financial adviser Tai Thanh Nguyen, of Adelaide, South Australia, was charged with seven counts of alleged falsification of company books following an ASIC investigation.
Mr Nguyen operated a financial services business, Financial Wealth Advisers Pty Ltd from around July 2005. From 6 December 2011 to 4 August 2015, Mr Nguyen was an authorised representative of GWM Adviser Services Limited, and since 5 August 2015, he has been an authorised representative of Interprac Financial Planning Pty Ltd.
ASIC alleges that on seven occasions, between about February 2010 and December 2018, Mr Nguyen falsified company books while carrying out his financial planning and advice business.
It is further alleged that Mr Nguyen inserted signatures and dates and altered documents relating to two of his clients, to look like he was compliant with his obligations as an authorised representative of the Australian financial services licensees.
The matter will proceed in the Adelaide Magistrates Court and has been listed for a further mention on 5 August 2022.
This matter is being prosecuted by the Commonwealth Director of Public Prosecutions following a referral by ASIC.
Background
The maximum penalty for each charge is 2 years’ imprisonment and/or 100 penalty units. When dealt with summarily the maximum penalty is 12 months’ imprisonment and/or 60 penalty units
In January 2019, Mr Nguyen was previously permanently banned by ASIC for dishonest conduct (19-011MR).
Editor's note:
At the hearing on 5 August 2022, this matter was adjourned for further mention on 30 September 2022.
Editor's note 2:
The matter has been listed for a pre-trial conference on 11 November 2022.
Editor’s note 3:
On 11 November 2022, the pre-trial conference was adjourned until 9 December 2022.
Editor's note 4:
On 9 December 2022 the matter was adjourned until 13 January 2023.
Editor's note 5:
Mr Nguyen was convicted on both counts and placed on recognisance in the sum of $1,000 to be of good behaviour for two years (23-005MR).