iscover ASIC secures permanent ban for dodgy accountant
BusinessASIC has moved to permanently ban an accountant and financial adviser from providing financial services after his earlier house arrest sentencing.
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).
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.
Jotham Lian
Jotham Lian is the editor of Accountants Daily, the leading source of breaking news, analysis and insight for Australian accounting professionals.
Before joining the team in 2017, Jotham wrote for a range of national mastheads including the Sydney Morning Herald, and Channel NewsAsia.
You can email Jotham at:
