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ASIC has moved to permanently ban an accountant and financial adviser from providing financial services after his earlier house arrest sentencing.
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ASIC secures permanent ban for dodgy accountant
27 January 2020
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8 minute read
In October last year, Nicholas James Ellis, an accountant and former financial adviser operating in Valentine, NSW, was sentenced to three years’ imprisonment to be served by way of Intensive Correction Order (ICO).
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Mr Ellis had previously pleaded guilty to two charges of making false or misleading statements to obtain money from clients and fraudulent misappropriation of client funds.
ASIC has now moved to permanently ban Mr Ellis from providing financial services and engaging in credit activities.
The latest development comes after the corporate regulator had previously banned Mr Ellis from providing financial services for six years for dishonest conduct in unrelated matters.
Mr Ellis has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.
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