ASIC Deputy Chair Daniel Crennan QC said:
As a financial adviser Mr Miller ought to have protected the interests of his clients. His sentencing should send a strong message that such conduct will lead to individuals involved being brought before the court to face criminal charges.
Miller was a financial adviser of CFS between 2013 and 2017. He advised his clients to invest their funds in CFS but instead he used the client’s money for his own benefit and business expenses.
The Federal Court banned Miller in January 2019 from providing financial services for 25 years and from managing corporations for three years.
- ASIC suspends the licence of OTC derivatives issuer USGFX
- ASIC bans former Forex Capital Trading account manager for three years
The post Former CFS Private Wealth financial adviser sentenced to six years in prison for $1.8M Ponzi scheme appeared first on LeapRate.