A Sydney woman has pleaded guilty to dealing with the proceeds of crime and dishonesty offences, including in relation to SMSF clients.
ASIC announced that Sarah Jane Busteed had plead guilty in the NSW District Court of two changes that she had dishonestly obtained client funds and one charge of dealing with more than $100,000 of client funds that were the proceeds of crime.
AISC says that the charges alleged that Ms Busteed had provided services to individuals and SMSFs on property investments.
“On various dates in 2012, Ms Busteed dishonestly and by deception obtained $57,000 from a law firm and $36,000 from a client’s SMSF account, and also dealt with $163,968 obtained from that client’s SMSF account which she knew to be the proceeds of crime. It is alleged that the funds were used for various purposes, including for Ms Busteed’s personal expenses,” said ASIC.
“Ms Busteed admitted her guilt in respect of a fourth charge that she dishonestly obtained client funds and this offending will be also be taken into account when she is sentenced.”
According to ASIC, Ms Busteed is currently serving a custodial term and was refused bail, with a sentencing hearing listed for 21 June 2018.
The Commonwealth DPP is prosecuting these matters.