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Following a five-week trial in the District Court of NSW, Mr Peter Alan Gregg of Pyrmont, NSW has been found guilty of criminal charges brought by ASIC. The jury gave its verdict today in the District Court in Sydney.
Mr Gregg was found guilty of two counts of contravening section 1307(1) of the Corporations Act 2001. The jury found that Mr Gregg, a former director and chief financial officer of Leighton Holdings Ltd (LHL), had engaged in conduct which resulted in the falsification of LHL's books.
Mr Waugh, of Maylands, Western Australia, the former managing director of Leighton Welspun Contractors Pvt Ltd, was found not guilty of one count of aiding and abetting the commission of an offence by Mr Gregg under s1307(1).
Gregg was remanded to appear before the District Court on 31 January 2019.
The matter was prosecuted by the Commonwealth Director of Public Prosecutions.
Earlier this year Gregg sold his Double Bay trophy home.
The four-bedroom, heritage-listed 1934 mansion is known locally as "Taj" secured around $7.75 million.
Gregg and wife Tobi Moroz purchased the house in 2015 from prominent legal couple Maurice Neil and Natasha Goulden for $6.2 million.
The landmark Spanish Revival property has been listed through Michael Finger and Peter Leipnik.
​The Wiston Garden Spanish Mission-style house was built on the cul-de-sac in 1934 at a cost of £2,700.
The heritage listed property was built in 1934 by poulterer Albert Glazebrook with rare Max Le Verrier light fittings.
 
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Former Leighton executive Peter Gregg found guilty of falsification of company books

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ASIC has permanently banned Victorian director Ermelia Suzanne Snoeks from engaging in credit activities and from providing financial services.
This followed an ASIC investigation that found Ms Snoeks:
<ul>
<li>failed to disclose a past criminal conviction in an application for an Australian credit licence by NBG Financial Pty Ltd (NBG), a company for which Ms Snoeks is the director;</li>
<li>lodged a false document in support of her being a fit and proper person in NBG's Australian credit licence application;</li>
<li>had previously been involved in false correspondence misrepresenting the fate of monies and in respect of her purportedly being legally represented; and</li>
<li>failed to disclose in an annual compliance certificate that NBG has ceased to be a member of an external dispute resolution scheme.</li>
</ul>
It was therefore determined that Ms Snoeks had contravened credit legislation and was not a fit and proper person to engage in credit activities or provide financial services to consumers.
NBG held an Australian credit licence between March 2011 and September 2016.
ASIC Deputy Chairman Peter Kell said, 'We expect information in support of a credit or financial services licence application to be truthful and contain all relevant material for us to assess an applicant's suitability to be authorised.  'Anyone who provides information that is false and incomplete, and designed to circumvent the safeguards in the licensing process, shows blatant disregard for the law. We will take steps to remove such a person from the industry'.
Ms Snoeks has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.
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Victorian mortgage broker banned for past failures

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ASIC has permanently banned former NSW financial adviser Ashley Grant Howard from providing financial services after an investigation found he had: 　
<ul>
<li>engaged in dishonest conduct;　</li>
<li>held out that trading he was conducting was authorised;　</li>
<li>provided financial services when not licensed or authorised to do so; and 　</li>
<li>engaged in conduct that was likely to mislead.　</li>
</ul>
ASIC found that Mr Howard had failed to comply with the Corporations Act in that he:　
<ul>
<li>used more than $1.8 million of client funds for his own benefit or the benefit of others (which included paying for cosmetic surgery for his partner, purchasing a house and settling debts to Jordan Belfort, the so-called 'Wolf of Wall Street'); and　</li>
<li>provided false information and documents to clients and third parties.　</li>
</ul>
The Newcastle district house cost $380,000 and was sold at $350,000 in 2013.
ASIC also found that Mr Howard had failed to:　
<ul>
<li>assist his trustee in bankruptcy by not lodging a statement of affairs;　</li>
<li>assist the liquidator of Meridien Capital Ltd, a company of which he was a director, by not providing a report as to the company's affairs, not providing information as reasonably required and directed by the liquidator and did not produce the books and records of the company;　</li>
<li>comply with Notices served by ASIC to produce documents and attend an examination.　</li>
</ul>
Mr Howard's dishonest unauthorised use of the $1.8 million from clients led to ASIC finding that he was not of good fame and character.　
ASIC Commissioner John Price said, 'ASIC will take action to remove persons from the financial services industry to protect the public. Mr Howard's conduct was particularly bad in that, on occasions, he preyed on elderly and vulnerable people.'　
Mr Howard has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC's decision.　
Background　
In 2014 ASIC commenced an investigation into the circumstances surrounding the misappropriation of funds from the initial public offering for Elsmore Resources Limited [ASX code: ELR] ('Elsmore'). Elsmore listed on the ASX on 20 December 2013 at a time when Mr Howard was a director.　
During the course of this investigation ASIC became concerned about the conduct of various individuals, including Mr Howard's, and which has led to his permanent banning from providing financial services. 　
Mr Shaun Morgan, a New Zealand national, also came to ASIC's attention during the investigation and led ASIC to issue a public warning notice about Mr Morgan and his companies (15-016MR). Subsequently last year ASIC permanently banned Mr Morgan from providing financial services (15-140MR) and he was removed as a director from various Australian companies in light of his criminal conviction in the United States (15-275MR).　
Elsmore itself has pursued legal action to recover the allegedly misappropriated funds from Mr Howard and his associates, Periwinkle Investments Pty Ltd, HF Global Corporate Financial and Harry Fung. Mr Howard is currently a bankrupt, which has impacted on the ability of the company to enforce a settlement agreement entered into with Mr Howard requiring him to repay the misappropriated funds. Most recently the Supreme Court of New South Wales ordered Mr Fung to pay approximately $680,000 to the company.　
Elsmore Resources Limited was delisted by the ASX on 15 August 2016.　
ASIC's investigations into Mr Howard and other associated individuals continue.
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ASIC bans Wolf of Wall Street's former partner Ashley Howard

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Mark McIvor, former chief executive officer and founding director of Equititrust Limited (in liquidation) (Equititrust) remains permanently banned from providing financial services after withdrawing an application to the Administrative Appeals Tribunal (AAT) to appeal against ASIC's original banning decision.
Mr McIvor was permanently banned from providing financial services on 2 September 2015 following an earlier ASIC investigation into the collapse of Equititrust.
At that time, Equititrust held an Australian financial services (AFS) licence and was the responsible entity of two registered schemes; Equititrust Income Fund (EIF) and the Equititrust Priority Class Income Fund (EPCIF) and was also the trustee of Equititrust Premium Fund (EPF); an unregistered managed investment scheme.
An ASIC delegate found that whilst he was the director of Equititrust, Mr McIvor contravened a financial services law and was not of good fame or character to provide financial services.
His conduct involved breaches of the financial services legislation which were considered to be very serious, repetitive, prolonged and dishonest.
In particular, the ASIC delegate found that Mr McIvor contravened financial services laws by:
<ul>
<li>Signing 28 board meeting minutes, which falsely recorded a board meeting to approve a loan application had occurred, when no such board meeting had taken place, and in doing so, Equititrust did not meet its obligations under EIFs Compliance Plan; and</li>
<li> </li>
<li>Failing to take all the steps that a reasonable person would take, if they were in Mr McIvor's position, namely to ensure that accurate, true and correct documents were relied upon for compliance checks and not be involved in the production of false documents.</li>
</ul>
Mr McIvor subsequently filed applications for a review of ASIC's decision to permanently ban him from providing financial services and to stay the operation and implementation of the banning order.
The stay application was refused by the AAT (refer 16-181MR) and on 1 September 2016, Mr McIvor withdrew his application for review of ASIC's decision to permanently ban him from financial services.
ASIC Commissioner John Price said Mr McIvor's conduct was at the most serious end of the offending range and that it was appropriate he be permanently banned from providing financial services.
'People who provide financial services, especially those in senior management positions, are required to discharge their obligations under financial services laws efficiently, honestly and fairly. ASIC will ensure those who fail in these duties are removed from the industry,' Mr Price said.
Equititrust was incorporated on 18 August 1993 and was placed into voluntary administration on 15 February 2012. 
The creditors of Equititrust resolved that the company should be placed into liquidation on 20 April 2012.
The voluntary administrators of Equititrust reported that as at the date of their appointment:
<ul>
<li>    EIF had about 1620 unitholders who were owed approximately $203.6mil;</li>
<li> </li>
<li>    EPF had about 38 unitholders who were owed approximately $56.7mil; and</li>
<li> </li>
<li>    EPCIF had 5 unitholders and held no tangible assets.</li>
</ul>
On 19 December 2011, ASIC suspended Equititrust's AFSL for 12 months, for failing to comply with a number of key obligations as a financial services licensee (refer 11-306MR). Equititrust's AFSL remains suspended.
On 22 August 2014, Mr McIvor was convicted and fined $10,000 in the Brisbane Magistrates Court of six charges of failing to provide a Report as to Affairs and to deliver books and records to the liquidators of Chevron Capital Pty Ltd, MHSM Holdings Pty Ltd and SM Capital Pty Ltd (refer 14-223MR).
Mr McIvor was made bankrupt on 28 November 2012, however, his bankruptcy period has since expired.
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Former Equititrust CEO remains permanently banned from providing financial services

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The Federal Court has declared that land banking developments operated by Jamie and Dennis McIntyre were unregistered managed investment schemes in a decision delivered by His Honour Justice Bromwich on 17 October 2016.
The Court also made orders that Jamie and Dennis McIntyre be disqualified from managing corporations and restrained from carrying on financial services for a period of 10 years each, due to them being officers of companies that had failed, by virtue of them being wound up, and which had also repeatedly contravened the Corporations Act .
Jamie and Dennis McIntyre agreed to the banning orders made against them.
Further, the Court made orders to wind up the unregistered managed investment schemes, which were promoted and advertised by the 21st Century land banking companies.
The unregistered managed investment schemes are known as:
<ul>
<li>Botanica, located at 805 Archer Rd, Kialla, Victoria 3631</li>
<li>Secret Valley Estate, located at  955, Old Sydney Road, Bylands, Victoria 3762</li>
<li>Oak Valley Lakes Estate &amp; Resort, located at 124 Booth Road, Brookhill, Townsville, Qld 4816</li>
<li>Bendigo Vineyard Estate &amp; Resort, located at  51 Andrews Road, Bendigo, Victoria 3551</li>
<li>Melbourne Grove Estate, located at  1491 Dohertys Road, Mount Cottrell, Victoria 3024</li>
</ul>
Simon Wallace-Smith and Robert Woods of Deloitte have been appointed as joint liquidators of the unregistered managed investment schemes.
ASIC Commissioner Greg Tanzer said, "The high banning periods ordered by the Court in this case are necessary to protect the public from those who are officers of companies that repeatedly contravene the Corporations Act.  It also serves as a warning to those involved in unlawful unregistered managed investment schemes, including those that involve land banking, that ASIC will take action."
ASIC's investigation into the matter is ongoing.
ASIC commenced proceedings in August 2015 against Jamie and Dennis McIntyre and the 21st Century land banking companies in relation to their promotion and sale of interests to investors in five land banking schemes.
ASIC’s proceedings are part of ASIC's wider and ongoing investigation into land banking schemes.
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Federal Court declares 21st Century land banking schemes unlawful

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ASIC has permanently banned a Queensland mortgage broker Jiangyong (Jenny) Mao from engaging in credit activities and providing financial services after an investigation found she created and submitted false documents in support of home loan applications for her clients.
ASIC said Mao "is not a fit and proper person" to engage in credit activities, and determined she was "not of good fame or character".
"The integrity of the home loan industry relies upon participants who are honest. ASIC will ban people who deliberately engage in fraudulent conduct," ASIC deputy chair Peter Kell said.
Mao has the right to seek a review of ASIC’s decision to the Administrative Appeals Tribunal.
Ms Mao, of South Brisbane, Queensland operated a home loan broking company, Diamond Lady Group Pty Ltd (Diamond Lady Group) which held an Australian credit licence from 2010 until 2014. 
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ASIC bans Diamond Lady Group Queensland mortgage broker

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ASIC has permanently banned Mr Shiv Prakash Sahay, of Lidcombe NSW, from the credit and financial services industries.
The bans follow an ASIC investigation which led to Mr Sahay being convicted on 7 July 2015 in Sydney Downing Centre Local Court on three charges of making false statements, making false documents and using false documents in home loan applications. 
He was sentenced to 350 hours of community service work.
ASIC deputy chair Peter Kell said ASIC's action against Mr Sahay shows how seriously we are about tackling loan fraud.
 'We won't hesitate to take strong action to remove dishonest brokers, who falsify loan documents to the detriment of their clients, from the industry'.
Mr Sahay has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC's decision. 
Background
On 26 May 2015, Mr Sahay pleaded guilty to three charges of:
1. making 13 false statements in loan applications submitted by him on behalf of his clients to Bankwest and Suncorp;
2. making 23 false documents in support of those false statements, mainly bank statements; and
3. using 26 false documents in loan applications submitted by him on behalf of his clients to Bankwest (a division of the Commonwealth Bank of Australia) and Suncorp Metway Limited. 
On 7 July 2015, Mr Sahay was convicted and sentenced to 350 hours of community service work  for the above three charges. 
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ASIC bans convicted finance broker over Bankwest and Suncorp home loan applications

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ASIC has banned Mr Trevor John Seymour, a former director of Provident Capital Limited, from managing corporations for three years and providing financial services for three years.
Mr Seymour was a director of Provident Capital from 25 May 1998 to 17 December 2013. Provident Capital went into receivership on 3 July 2012 and into liquidation on 24 October 2012.
Mr Seymour has filed an application with the Administrative Appeals Tribunal (AAT) for a review of ASIC's decision.
ASIC’s investigation is continuing.
 
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