Senen Pousa of Byron Bay appeared in the Brisbane Magistrates Court on Thursday 26 March, following an ASIC investigation.
Mr Pousa was charged with aiding and abetting his company, Investment Intelligence Corporation (IIC), to carry on a financial services business without holding an Australian financial services (AFS) licence between September 2011 and June 2012.
Section 911A(1) of the Corporations Act requires those carrying on a financial services business in this jurisdiction to hold an AFS licence.
If convicted, Mr Pousa faces a maximum penalty of 2 years imprisonment, a fine of $22,000, or both.
The matter was adjourned and is next scheduled for mention on 28 May 2015.
The Commonwealth Director of Public Prosecutions is prosecuting the matter.
Background
In July 2012 ASIC froze more than $3 million in funds held by IIC as part of its investigation (refer: 12-175MR). ASIC also obtained orders preventing Mr Pousa from leaving the country.
Leave a Comment
You must be logged in to post a comment.