Former property developer charged with defrauding SMSFs of $800,000

A former property developer has been charged with defrauding SMSFs of $800,000.

Mr Craig Kirrin Gore appeared in the Brisbane Magistrates’ Court after being arrested and charged with 15 offences following an investigation by ASIC.

“Mr Gore was arrested on 14 April 2017 and subsequently appeared in Court on 15 April 2017 on 12 counts of fraud relating to the obtaining of funds, totalling $800,000, from self-managed superannuation fund (SMSF) investors during 2013 and 2014,” said a statement by ASIC.

“The funds were allegedly to be invested in debentures associated with the companies Arion Financial Pty Ltd and Arion Property Pty Ltd. Mr Gore also faces three charges of acting in the management of three corporations (MOGS Pty Ltd, Sleipner Financial Pty Ltd and Arion Financial Pty Ltd) whilst disqualified from doing so.”

“ASIC obtained an arrest warrant after concerns Mr Gore may not remain in the jurisdiction. ASIC acknowledges the assistance of the Australian Federal Police and Queensland Police in assisting with the execution of the arrest.”

“Mr Gore was not required to enter a plea and was granted conditional bail. The matter is listed for return at the Brisbane Magistrates Court on 5 May 2017,” said ASIC

The matter is being prosecuted by the Commonwealth Director of Public Prosecutions. According to ASIC charges of fraud carry a potential maximum penalty of between five and 20 years imprisonment, while charges of acting in the management of corporations whilst disqualified each carry a maximum penalty of one year or a monetary fine.

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