Powered by MOMENTUM MEDIA

Former CFO charged with fraud

By Eliot Hastie
 — 1 minute read

The former chief financial officer of Octaviar Limited has been charged with twenty-six counts of fraud under the Queensland criminal code. 

David Mark Anderson was the chief financial officer of and company secretary of Octaviar Limited, formerly known as MFS Limited, a publicly listed company with interests in financial services on the Gold Coast. 

The group collapsed in 2008 owing $2.5 billion but Mr Anderson’s charges were related to his time at OIH3, a subsidiary of the group. 

Advertisement
Advertisement

ASIC alleged that between June 2012 and September 2015, Mr Anderson while director of Octaviar Investment Holdings No 3 (OIH3) dishonestly applied $4,611,571.86 of the company’s money for his own use. 

At the time Mr Anderson was the sole director of the holdings group with the charges brought against him following an ASIC investigation into his conduct. 

Mr Anderson has been released on bail and the matter is adjourned until September this year. 

 

The ifa Excellence Awards are back in 2021 and nominations are now open!

This prestigious accolade recognises exceptional professionals within the financial advice industry, shining a light on the outstanding achievements from the nation's best and brightest. If this sounds like you or someone you know, then nominate today for the ifa Excellence Awards 2021! ifa.com.au/excellence-awards

 

Former CFO charged with fraud
investordaily image
ID logo

 

related articles

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.