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Former adviser with links to accounting firm disqualified

A former Sydney financial adviser, who had directorship ties with an accounting firm, has been disqualified from managing companies for the maximum period.

Business Jotham Lian 23 May 2019
— 1 minute read

ASIC has disqualified Daniel McSweeny of Zetland, NSW from managing companies for the maximum period of five years following his involvement in 14 failed companies.


Mr McSweeny was a former director of The Village Accountant Australia Pty Ltd in Mosman.

He was also a former director of:

  • Taavla Capital Pty Limited A.C.N. 139 644 429;
  • Prettoria Capital Pty Limited A.C.N. 143 300 609;
  • Iugis Capital Pty Limited A.C.N. 136 702 639;
  • Wealth Achievers Services Australia A.C.N. 130 189 909;
  • Constantia Capital Pty Limited A.C.N. 143 526 434;
  • FF&I Holdings Pty Limited A.C.N. 124 345 348;
  • Security Chips Pty Ltd A.C.N. 600 199 255;
  • Kimbriki Capital Pty Ltd A.C.N. 133 864 883;
  • Kimbriki Capital Trading Pty Ltd A.C.N. 133 864 892;
  • Wealth Achievers Services Group Pty Ltd A.C.N. 162 529 375;
  • Mondo Oro Pty Ltd A.C.N. 120 262 348;
  • Wealth Achievers Services Pty Ltd A.C.N. 127 843 056; and
  • Logiplan Financial Services Pty Ltd A.C.N 002 663 210;

Mr McSweeney used the companies to operate a financial services business. The companies were placed into liquidation between 21 August 2014 and 8 September 2015.

The total amount of debts owed by the 14 companies to creditors amounted to approximately $9.8 million.

Among its findings, ASIC said Mr McSweeney had fraudulently misappropriated company money; used the company structure for his own dishonest means; showed a complete disregard of his director duties; failed to observe requirements to lodge documents with the ATO; failed to ensure the companies complied with their obligation to keep written financial records; and failed to prevent the companies from trading while possibly insolvent.

Mr McSweeny’s disqualification took effect from 2 May 2019 and extends to 1 May 2024.

Following a separate ASIC investigation, Mr McSweeny has been charged with 20 dishonesty offences and one offence of falsifying books while a company director, with the matter scheduled for mention on 5 July and is being prosecuted by the Commonwealth Director of Public Prosecutions.

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Former adviser with links to accounting firm disqualified
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