SMSF accountant charged

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An SMSF accountant has been charged with 23 criminal counts.

Nicholas James Ellis has been charged following an ASIC investigation. Ellis was charged with 23 criminal counts including 12 counts of making false and misleading statements, nine counts of fraudulently misappropriating money, one count of fraud and one count of obtaining a financial benefit by deception.

The regulator alleges that between March 2009 and June 2010, Ellis made false or misleading statements to investors, and subsequently fraudulently misappropriated approximately $857,000 of investor funds.

In 2013, ASIC banned Ellis from providing financial services for six years.

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