A former real estate developer has been arrested and charged with 15 offences following an ASIC investigation.
Mr Craig Kirrin Gore was arrested on 14 April 2017 and subsequently appeared in Court on 15 April 2017 on 12 counts of fraud relating to the obtaining of funds, totalling $800,000, from SMSF investors during 2013 and 2014.
According to ASIC, the funds were allegedly to be invested in debentures associated with the companies Arion Financial Pty Ltd and Arion Property Pty Ltd. Mr Gore also faces three charges of acting in the management of three corporations (MOGS Pty Ltd, Sleipner Financial Pty Ltd and Arion Financial Pty Ltd) whilst disqualified from doing so.
ASIC obtained an arrest warrant after concerns Mr Gore may not remain in the jurisdiction.
ASIC acknowledged the assistance of the Australian Federal Police and Queensland Police in assisting with the execution of the arrest.
Mr Gore was not required to enter a plea and was granted conditional bail. The matter is listed for return at the Brisbane Magistrates Court on 5 May 2017.
The Commonwealth Director of Public Prosecutions is prosecuting these matters.
ASIC explained that the charges of fraud carry potential maximum penalties of between five and 20 years.
The charges of acting in the management of corporations whilst disqualified each carry a maximum penalty of one year imprisonment or 50 penalty units.
[Related: ASIC announces payday lending changes]