Dr Roger Munro has been sentenced to four and a half years of imprisonment, with a non-parole period of 15 months, after being convicted of fraud.
Dr Munro was sentenced in the District Court of Queensland on Tuesday, 3 May, after pleading guilty to three counts of fraud in July 2021.
An investigation found that between March 2013 and April 2014, Dr Munro received $299,600 from three investors after he invited them to invest in his trading scheme TradeStation Futures Trading Fund (TradeStation).
According to ASIC, Dr Munro dishonestly applied the funds to pay for personal expenses, make cash withdrawals, make payments to other investors and transferred funds into a account held in the name of his wife, rather than invest the funds as promised.
Dr Munro continued to represent to investors that their funds were invested in TradeStation through false reporting of profits and losses of the fund.
Judge Smith said that the offence had a significant impact on the victims.
The investigation first launched in 2015, and the following year the Supreme Court of Queensland permanently restrained Dr Munro from carrying on a financial services business in Australia without holding an Australian financial services licence.
In 2017, he was arrested and charged with five counts of fraud.
Neil Griffiths
Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.
Neil is also the host of the ifa show podcast.
