Former financial adviser Mr Tai Thanh Nguyen of Adelaide, South Australia, has pleaded guilty in the Adelaide Magistrates’ Court to two counts of falsifying company books. Mr Nguyen was convicted on both counts and placed on recognisance in the sum of $1,000 to be of good behaviour for two years.
Mr Nguyen admitted to falsifying seven documents relating to two of his clients by inserting client signatures and by adding dates to documents. He falsified documents between February 2010 and December 2018.
Mr Nguyen’s offending occurred while he has an authorised representative of GWM Adviser Services Limited and Interprac Financial Planning Pty Ltd.
In sentencing Mr Nguyen, Magistrate Nitschke stated ‘it is a serious matter to falsify company records’ and ‘the company records…must reflect accurately the truth of the situation.’ Magistrate Nitschke further stated that the falsification of such records ‘is a breach of trust of those who you’re engaged to act for’.
Mr Nguyen was charged on 24 June 2022, following an ASIC investigation (22-155MR).
In 2019, ASIC permanently banned Mr Nguyen from providing financial services (19-011MR).
The matter was prosecuted by the Commonwealth Director of Public Prosecutions after a brief and referral from ASIC.