ASIC conviction as adviser gets suspended sentence

Craig Dangar, a former self-managed superannuation adviser, was sentenced on Friday at Downing Centre Local Court after pleading guilty to one count of lodging a false statement with the Australian Securities and Investments Commission (ASIC).

Dangar was convicted and released subject to a recognizance order, without security, and requiring him to be of good behaviour for 18 months.

An ASIC investigation into Dangar’s conduct between January 2004 and September 2007 led to three charges being laid by ASIC.

In July 2012 he pleaded guilty to falsely claiming in a document lodged with ASIC, to being a director of SMSF Consulting Pty Ltd.

In February 2013 Dangar received concurrent suspended sentences of 18 months imprisonment in relation to his charges of obtaining financial advantage by deception.

The Commonwealth Director of Public Prosecutions prosecuted these matters.

ASIC commissioner Peter Kell said ASIC is focused on promoting the integrity of the self-managed super industry so that, ultimately, consumers feel confident when dealing in this area.

“This case is a reminder to industry participants in the self-managed super space that dishonest conduct will not be tolerated and can lead to criminal conviction,” he said.