Mark Francis McCabe, of Roseville, New South Wales has appeared in the Downing Centre Local Court on further fraud charges.
Mr McCabe was charged with eight counts of dishonestly obtaining a financial advantage by deception under s192E of the Crimes Act (NSW).
It is alleged between 1 January 2015 and 28 April 2021, Mr McCabe dishonestly obtained a financial advantage in the amount of $940,350 from eight people, seven of whom were clients of his companies, Guevara Capital Access Pty Ltd (Deregistered) and Online Trading Capital Pty Ltd (Deregistered).
Mr McCabe had previously been charged with one count of dishonestly obtaining property by deception under s192E of the Crimes Act (NSW) (22-234MR). This charge will be withdrawn on 9 May 2023.
The criminal charges come 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).
Mr McCabe has been granted bail and will appear in court on 9 May 2023 for committal.
This matter is being prosecuted by the Commonwealth Director of Public Prosecutions after a referral from ASIC.
The maximum penalty for dishonestly obtaining financial advantage by deception under the Crimes Act NSW is 10 years imprisonment.