Former financial adviser charged with 17 offences

A former financial adviser has been charged with 17 offences in Newcastle Local Court.

According to ASIC, Ashley Grant Howard appeared in court on Friday, 13 May via his legal representative where he was charged.

It’s alleged that Mr Howard used 17 false transfer forms to arrange for shares in GPS Alliance Holdings BHP Billiton Limited and Aquarius Platinum Limited to be transferred from one party to another, knowing that the forms were false, between July 2013 and April 2014.

Mr Howard allegedly transferred the shares to an associate and himself without the knowledge and approval of 14 shareholders.

The maximum penalty per offence, when dealt with summarily is two years' imprisonment and/or a fine not exceeding $11,000.  

Mr Howard was originally banned in October 2016 for a separate matter, in which ASIC found that he had breached the Corporations Act by using 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 provided false information and documents to clients and third parties.

Then, ASIC commissioner John Price said at the time: "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."

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.

Neil is also the host of the ifa show podcast.