The former director of an alleged investment company has pleaded guilty to three charges, including obtaining financial advantage, issuing false statements and acting without an Australian financial services license (AFSL).
Tania Michele Oakley, of Noosa in Queensland, appeared in the Noosa Magistrates Court last week on three charges following an ASIC investigation.
The charges related to Oakley's role as the sole director of a purported investment company, Tanoak Pty Ltd, between March 2007 and November 2010.
The corporate regulator alleged that between 6 March 2007 and 16 April 2007, Oakley gained a financial advantage by using around $766,900 of investor funds to purchase a house.
The funds had been invested with her company to purchase equities on behalf of investors.
Oakley was also charged for issuing false statements to 10 investors to cover losses made from trading investors' funds between 1 June 2009 and 30 November 2010.
ASIC also alleged that Oakley carried on a financial services business between 27 January 2009 and 1 November 2009 without holding an AFSL.
Oakley was committed for sentencing at a later date in the Maroochydore District Court.
On 13 June 2012, ASIC obtained consent orders in the Supreme Court of Queensland to wind up Tanoak Pty Ltd and another company where Oakley was sole director, Fintel Financial Intelligence Pty Ltd.
John Cunningham of Worrell's was appointed official liquidator of the companies.
