ASIC has made two orders permanently banning Matthew Allen Beresford of Thornbury, Victoria from engaging in financial services and credit activities.
Mr Beresford used a false identity and fraudulent bank accounts to establish a business which illegally offered financial advice and financial services. Further, the business website falsely claimed the relevant company representatives held an Australian Financial Services (AFS) License.
An ASIC investigation revealed that investors deposited approximately $374,000 into the various bank accounts opened by Mr Beresford.
ASIC worked closely with Victoria Police (VicPol) on this matter, with VicPol initiating charges against Mr Beresford for various offences.
On 27 June 2024, Mr Beresford pleaded guilty in the County Court of Victoria to false document and proceeds of crime offences and was sentenced to 85 days imprisonment and a 30-month Community Corrections order.
ASIC's banning action against Mr Beresford's seeks to promote fairness, honesty and professionalism by those who provide financial and credit services and ensure informed participation of investors and consumers in the financial system.
Background
Sections 80 and 81 of the National Consumer Credit Protection Act 2009 (Cth) and sections 920A and 920B of the Corporations Act 2001 (Cth) gives ASIC the power to make orders banning a person from participating in the financial services and credit industries if the person has been convicted of a fraud offence.
Mr Beresford has been convicted of offences involving fraud or dishonesty, and therefore ASIC's power to make a banning order under those provisions has been enlivened.
Mr Beresford's banning has been recorded on ASIC's banned and disqualified register.
