ASIC has permanently banned former BDO Kendalls Wealth Management authorised representative Christos Papaioannou from providing financial services following his conviction on fraud charges.
On 29 March, Papaioannou was convicted in the Magistrates Court of Victoria of four counts of obtaining money by deception and one count of attempting to obtain money by deception.
He was sentenced to 15 months' prison, wholly suspended for a period of 18 months.
His fraud convictions arose from conduct while he was an authorised representative of BDO Kendalls Wealth Management.
He withdrew without authorisation funds totalling around $227,000 from several of his clients' self-managed superannuation funds.
Papaioannou has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC's decision.
