Former financial adviser sentenced after falsifying company books

Adelaide-based former financial adviser Tai Thanh Nguyen 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 adding dates to documents between February 2010 and December 2018.

According to a statement by ASIC, Mr Nguyen’s offence occurred while he was an authorised representative of GWM Adviser Services Limited and Interprac Financial Planning Pty Ltd.

In sentencing Mr Nguyen, Magistrate Brian Nitschke stated that “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. Previously, in 2019, ASIC permanently banned Mr Nguyen from providing financial services.