Former NAB adviser charged by court

In June last year, ASIC permanently banned NSW-based adviser Max Kiattisak Eung for numerous incidents of dishonest conduct, including creating false bank accounts under clients’ names.

ASIC alleges that between March 2016 and December 2016, Mr Eung dishonestly obtained a financial advantage of funds totalling $166,500 from accounts held with MLC Limited and Nulis Nominees (Australia) Limited in circumstances where the account holders did not authorise the withdrawal of those funds from their accounts.

Mr Eung was an authorised representative and financial adviser of NAB from 21 May 2015 to 20 December 2016.

ASIC said the offences each carry a maximum penalty of 10 years imprisonment, and that the matter is being prosecuted by the Commonwealth Director of Public Prosecutions.

The matter has been adjourned by consent for further mention on 7 May 2019 at the Downing Centre Local Court in Sydney.

Adrian Flores

Adrian Flores is a deputy editor at Momentum Media, focusing mainly on banking, wealth management and financial services. He has also written for Public Accountant, Accountants Daily and The CEO Magazine.

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