ASIC has permanently banned former Sunshine Coast financial adviser Brett Andrew Gordon from providing financial services and engaging in credit activities. This ban comes after Mr Gordon was convicted of fraud offences related to his role as a financial adviser and director of Refocus Financial Group Pty Ltd.

Between 2015 and 2018, Gordon dishonestly misused funds deposited by clients for property development purposes to pay personal debts, expenses, and Refocus business expenses. Following an ASIC investigation, Gordon pleaded guilty to nine counts of fraud amounting to $652,500 and was sentenced to six years imprisonment, with parole eligibility after 18 months.

Under the Corporations Act and the National Consumer Credit Protection Act, ASIC has the authority to permanently ban individuals convicted of fraud from the financial services and credit industries. Consequently, Gordon has been banned permanently, prohibiting him from providing financial services, engaging in credit activities, controlling entities involved in these activities, or performing any function associated with them.

Gordon's ban has been recorded in ASIC's Banned and Disqualified Register, and he has the right to appeal ASIC's decision to the Administrative Appeals Tribunal.

ASIC is committed to safeguarding the integrity of Australia's financial services industry and protecting consumers from fraudulent practices. This information is from ASICs official media release on the 28th of May 2024 and is current at the time of publishing.

To see the official media release Click Here.