James Gibbs of James Gibbs Investments Goes Missing With Investors Life Savings!
Adelaide Financial Planner James Gibbs, of James Gibbs Investments has been identified by Today Tonight as a Rogue Financial Planner after running away with Adelaide investors money. If you have been impacted or know someone who has, contact us today to discuss how you can recover your lost money
Update - 04/02/2019
James Gibbs, former Adelaide financial adviser has pleaded guilty to 28 dishonesty offences that were committed when he was adviser and director of James Gibbs Investments.
It was alleged that between 2009 and 2016 he stole approximately $4.9 million dollars of money he was meant to be managing for clients.
On the 1st of February 2019 Gibbs appeared in the Adelaide Magistrates Court and pleaded guilty to all of the 28 offences. He is currently on bail until the 27th of February 2019 when he is remanded to appear in committal court.
For more information about the case so far, please see the ASIC Media Release.
Update - 10/07/2019
Former Adelaide financial planner, James Gibbs, has been sentenced to 10 years imprisonment by the District Court of South Australia. James Gibbs pleaded guilty in February to the theft and dishonesty charges that resulted in almost $4.9 million of his clients money being used for his benefit.
Gibbs betrayed the trust of his clients withheld information and then created false documentation to mislead his clients about the state of their investment and SMSF portfolios to cover his actions.
Mr Gibbs received a sentence of 10 years, with a non-parole period of 7 years, his earliest release date based off this information should be in 2026.
For more information about James Gibbs crimes, please see the ASIC Media Release.
Update - 07/04/2020
In 2020, ASIC as a part of new extensions in the “Stronger Regulators Act” is able to ban people from involvement in financial services. Failure to comply with an ASIC is a criminal offence.
James Gibbs, formerly of James Gibbs Investments was sentenced to 10 years imprisonment with a non-parole period of 7 years, for theft and dishonestly relating to almost $4.9 million of his clients money.
As a result of these offences, and the new capabilities of the regulator, James Gibbs has been permanently banned by ASIC. He is not allowed to have any involvement in financial services or credit activities.
ASIC Maintains a Banned and Disqualified register that can be checked at any time .
We recommend anyone seeking financial advice check their chosen planner against this list before becoming clients.
For more information about Mr Gibbs permanent ban, please see the ASIC Media Release.
