Wednesday, March 29, 2023

Property fundraiser cops ASIC ban following fraud convictions

A Perth-based property fundraiser has copped a everlasting ban from ASIC following fraud convictions.

Sean Colville Niven has been completely banned from offering monetary providers and fascinating in credit score actions, after he was convicted within the Perth Magistrates Courtroom for 2 counts of offences opposite to the Chapter Act. The courtroom discovered Niven responsible of creating a declaration that he knew was false, and for disposing of property desiring to defraud collectors.

Niven, who had change into identified to ASIC because of his involvement in fundraising from most of the people for property developments on behalf of Skyline Flats Melbourne and Seed Fairness Group, was completely banned by the company regulator from:

  • offering any monetary providers or partaking in any credit score actions
  • performing any perform concerned within the carrying on of a monetary providers enterprise
  • performing any perform concerned within the partaking in of credit score actions
  • controlling an entity that carries on a monetary providers enterprise or one other one who engages in credit score actions

An individual who’s convicted of a severe fraud could be completely banned by ASIC from the monetary providers and credit score industries underneath the Companies Act and Nationwide Shopper Credit score Safety Act.

Niven’s banning can be recorded on ASIC’s Banned and Disqualified Register.

He has the correct to enchantment to the Administrative Appeals Tribunal for a overview of ASIC’s resolution.

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