Powered by MOMENTUM MEDIA
subscribe to our newsletter

Former Westpac manager cops permanent ban

ASIC has permanently banned a former WA bank manager from providing financial services and engaging in credit activities.

In a statement today, ASIC announces that it had permanently banned Darren Jason Arnold, who until April 2014 was the bank manager of Westpac Banking Corporation in Northbridge, Western Australia.

According to ASIC, between December 2013 and March 2014, Mr Arnold used his position as a bank manager to make unauthorised withdrawals from various bank accounts in a friend's name, totalling $515,000.

ASIC banned Mr Arnold after he was convicted and sentenced in August 2015, in separate proceedings in the District Court of Western Australia, of nine counts of stealing as a servant and one count of gaining a benefit by fraud.

ASIC may ban anyone who is convicted of fraud under the Corporations Act 2001 and National Consumer Credit Protection Act 2009,.

Advertisement
Advertisement

PROMOTED CONTENT


Mr Arnold has the right to lodge an application for review of ASIC's decision with the Administrative Appeals Tribunal.

[Related: Former CEO jailed for defrauding major bank]

Former Westpac manager cops permanent ban
mortgagebusiness

Latest News

Reverse mortgage lenders have accessed a small fraction of the potential retiree housing market in Australia, according to Deloitte. ...

Pepper Money has priced its second I-Prime deal for the year, upsizing the figure to $850 million. ...

The LMI provider has announced a new CFO following the resignation of its current CFO, effective 24 September. ...

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

How long do you think it should take to discharge a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.