ASIC bans former WA accountant 

ASIC_regulator

ASIC has permanently banned former accountant, Mr Arden Rodrick Wittensleger, 44, of Menora in Western Australia, from providing financial services and engaging in credit activity.

ASIC took action after Mr Wittensleger was found guilty of submitting fraudulent loan applications to obtain a benefit of around $6.5 million following an investigation by Western Australia Police.

Mr Wittensleger was convicted on 23 August 2013 in the District Court of Western Australia of 86 counts of gaining a benefit by fraud following the Western Australia Police investigation. On 14 October 2013, Mr Wittensleger was sentenced to a total term of imprisonment of eight years.

ASIC found Mr Wittensleger’s conduct extremely serious, showing a persistent pattern of deception to gain a financial advantage.

Commissioner Greg Tanzer said, ‘The functions and duties of a person providing financial services and engaging in credit activity require high standards of honesty and integrity.

‘Those who engage in serious, repeated fraud have no place in the financial services industry.’

Mr Wittensleger has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.

Source: ASIC

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