The corporate regulator announced that Joseph Cullia and Zoran Markovic, two Melbourne men allegedly involved in a sophisticated SMSF scam, have appeared before the Melbourne Magistrates Court today charged with various criminal offences following an ASIC investigation.
ASIC said the alleged scam involved the use of the Australian financial service licence of two legitimate companies without their knowledge or consent.
Mr Cullia, of Southbank, Victoria, has been charged with the following offences:
- Two charges of conspiracy to defraud;
- Two charges of dealing with proceeds of indictable crime (to the value of $1,000,000 or more); and
- One charge of possession of a false document and one charge of possession of identification information intended to be used to commit an indictable offence.
Mr Markovic, of Coburg, Victoria, has been charged with the following offences:
- 13 charges of aiding or abetting the commission of an offence by Mr Cullia, namely dealing with proceeds of indictable crime (to the value of $1,000,000 or more);
- One charge of dealing with proceeds of indictable crime (to the value of $10,000 or more); and
- One charge of possession of a false document, one charge of possession of identification information intended to be used to commit an indictable offence and one charge of possession of equipment to make, use, supply or identification documentation to commit an indictable offence.
If convicted, the pair face hefty punishment. Conspiracy to defraud has a maximum penalty of 15 years imprisonment, while ASIC noted that a person who aids or abets the commission of an offence by another person is taken to have committed the offence under the Code.
The offences of dealing with proceeds of indictable crime (to the value of $1,000,000 or more) have maximum penalties ranging from 12 months to 25 years imprisonment.
The maximum penalty for possession of a false document is 10 years imprisonment and for possession of identification information intended to be used to commit an indictable offence and possession of equipment to make, use, supply or identification documentation to commit an indictable offence is three years imprisonment.
“The charges follow an ASIC investigation into suspected fraudulent investment websites that operated between November 2020 and July 2021 under various names,” ASIC said.
“The website operators used the Australian financial service licence of two legitimate companies without their knowledge or consent.”
The matter is being prosecuted by the Commonwealth Director of Public Prosecutions.
Mr Cullia and Mr Markovic were granted bail and will return to Melbourne Magistrates Court on 30 April 2024.
