Former investment manager jailed
The Australian Securities and Investments Commission (ASIC) has published the following announcement after a series of investigations:
A former investment manager with links to the failed firm Trio Capital (Trio), was today sentenced to 25 months jail for making false statements resulting in his business receiving more than $500,000 in payments.
Tony Maher, who changed his name from Paul Gresham, pleaded guilty in October 2013 to making the statements regarding the valuation of investments made by the ARP Growth Fund (ARP) over two years.
At the time he owned and controlled PST Management Pty Ltd, the company that acted as the investment manager of ARP.
Mr Maher, 60, of Katoomba, was charged with 20 offences.
Appearing in the District Court of NSW, Mr Maher was sentenced to 25 months jail. He will serve 15 months before being eligible for parole.
ASIC Commissioner John Price said, ‘Mr Maher’s conduct fell below an acceptable standard.
‘Gatekeepers, like directors, company officers, auditors, investment advisers and financial planners, who think they can flout the law, should think again.’
The Commonwealth Department of Public Prosecutions prosecuted this matter.
Source: ASIC
