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Head of collapsed fund manager charged with dishonesty

By Reporter
 — 1 minute read

The former managing director of a funds management group placed into liquidation last year has been charged with a number of offences relating to dishonesty and providing false information.

In a statement, ASIC said former Global Merces Funds Management managing director Holly Grofski had faced a number of charges in Brisbane Magistrates Court on Friday.

Ms Grofski was charged with one count of dishonestly or recklessly failing to exercise her powers and discharge her duties under section 184(1) of the Corporations Act, one count of providing false information to the auditors of Global Merces, and one count of engaging in conduct resulting in the falsification of books regarding the affairs of Global Merces.

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The dishonesty charge carries a maximum sentence of 15 years’ imprisonment, while the two false information charges carry maximum sentences of five years each.

The offences occurred in late 2019, soon after which the firm was liquidated.

ASIC cancelled the licence of Global Merces in July 2020.

 

 

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Head of collapsed fund manager charged with dishonesty
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