In a recent public statement, ASIC said that Ezzat-Daniel Nesseim, of Pymble, NSW, had been sentenced to a three-year intensive correctional order, including one year of home detention, for engaging in dishonest conduct and providing falsified documents to ASIC.
According to ASIC, between 16 August 2017 and 11 October 2017, Mr Nesseim engaged in repeated dishonest conduct, including the use of three forged wholesale client certificates that were provided to ASIC in an attempt to influence an ASIC officer that they were genuine documents relevant to ASIC’s decision about whether to continue its investigation.
ASIC also claims that Mr Nesseim also gave ASIC false answers and information after ASIC questioned Mr Nessim, both under oath and by way of statutory notice, about the forged wholesale certificates.
“Mr Nesseim also knowingly made use of other fabricated evidence, including doctored emails and purported witness statements, in a hearing before an ASIC delegate. In that hearing, Mr Nesseim knowingly gave false testimony under oath,” the corporate regulator stated.
Mr Nesseim was permanently banned from providing financial services in March 2018. He was also permanently banned from engaging in credit activities from 19 July 2019 as he was found not to be a fit and proper person to engage in credit activities.
He previously held senior positions in the lending desks of major banking corporations and ran a financial planning and advisory business.
Upon sentencing, Judge McGrath said that Mr Nesseim had “weaved a tangled web; and ultimately entangled himself in his own falsehoods”.
“Had he admitted non-compliance with the particular disclosure requirements when first contacted, the consequences for him would not have involved a protracted investigation, compulsory hearings, strike-off and criminal prosecution for serious offences,” stated Justice McGrath.
ASIC stated that Mr Nesseim is currently the general manager of Accord Partners, a business operated by Foresight Enterprises, of which Mr Nesseim is the sole director.
“At the time of the offending, he ran a financial services business called Smart Financial Strategies. As a result of his conviction, Mr Nesseim is automatically disqualified from managing corporations for a period of five years from the date of his conviction,” said ASIC.
