Mr Mark Francis McCabe, of Roseville, New South Wales was arrested on 24 August 2022 by the New South Wales Police Force on an arrest warrant obtained by ASIC. He was charged with one count of dishonestly obtaining property by deception under s192E of the Crimes Act (NSW) and bailed to appear in court on 13 September 2022.

Following an ASIC investigation, it is alleged that between 16 October 2015 and 25 May 2020, Mr McCabe, a former director of Guevara Capital Access Pty Ltd, dishonestly obtained $273,800 from a client of Guevara Capital Access and Online Trading Capital.

The criminal charge comes after ASIC took civil action in the Federal Court in April 2022 to restrain Mr McCabe from leaving Australia while the investigation was underway (22-091MR).

This matter is being prosecuted by the Commonwealth Director of Public Prosecutions after a referral from ASIC. Further criminal charges against Mr McCabe are being considered.

Background

The maximum penalty for dishonestly obtaining property by deception under the Crimes Act NSW is 10 years imprisonment.

Editor's note 1:

On 13 September 2022, Mr McCabe appeared in Court. The matter was adjourned until 8 November 2022.

Editor's note 2:

The matter has been adjourned to 20 December 2022.

Editor's note 3:

The matter is adjourned to 31 January 2023 for further mention. 

Editor's note 4:

On 31 January 2023, the matter was adjourned until 14 March 2023. 

Editor's note 5:

On 14 March 2023, Mr McCabe appeared in the Downing Centre Local Court charged with a further eight counts of dishonestly obtaining a financial advantage by deception under s192E of the Crimes Act (NSW), refer 23-069MR.

Editor's note 6:

The charge of dishonestly obtaining property by deception under s192E of the Crimes Act (NSW) referred to in this media release was withdrawn on 13 June 2023. Refer to 23-069MR for ongoing information about ASIC’s charges against Mr McCabe.