Tuesday, December 5, 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 companies and interesting in credit score actions, after he was convicted within the Perth Magistrates Court docket 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 develop into recognized to ASIC resulting from his involvement in fundraising from most people for property developments on behalf of Skyline Residences Melbourne and Seed Fairness Group, was completely banned by the company regulator from:

  • offering any monetary companies or participating in any credit score actions
  • performing any operate concerned within the carrying on of a monetary companies enterprise
  • performing any operate concerned within the participating in of credit score actions
  • controlling an entity that carries on a monetary companies enterprise or one other one that engages in credit score actions

An individual who’s convicted of a critical fraud will be completely banned by ASIC from the monetary companies and credit score industries beneath the Firms Act and Nationwide Shopper Credit score Safety Act.

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

He has the suitable to enchantment to the Administrative Appeals Tribunal for a evaluation of ASIC’s choice.

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