Perth adviser charged with dishonest conduct

ASIC has alleged that Perth-based Rahul Goel contravened sections 1041G(1) and 1311(1) of the Corporations Act 2001 (Cth) by engaging in dishonest conduct while carrying on a financial services business via his company AR Wealth and Finance.

The regulator has also claimed Mr Goel acted dishonestly in relation to hardship and other applications to superannuation funds on behalf of his customers.

The matter has been listed for mention before the Perth Magistrates Court on 4 December.

Mr Goel has been placed on bail with conditions that he not leave Australia and that he surrenders his passports and does not apply for any further passport or international travel document.

If convicted, each offence carries a maximum penalty of 15 years’ imprisonment.

The matter is being prosecuted by the Commonwealth Director of Public Prosecutions.

The charges have followed an investigation into Mr Goel’s conduct when dealing with potentially vulnerable consumers in relation to their superannuation.

On 18 September, the Federal Court made interim orders including restraining Mr Goel from leaving the jurisdiction, requiring him to surrender his passports and freezing the assets of Mr Goel and AR Wealth and Finance. The proceeding is listed for an interlocutory hearing on 6 October.