ASIC charges NSW director with unlicensed financial services business


ASIC office

Mr Senen Pousa, of Byron Bay, was today sentenced in the Brisbane District Court on charges brought by ASIC.

Mr Pousa was sentenced after earlier pleading guilty to one charge of aiding and abetting his company, Investment Intelligence Corporation (IIC), to carry on a financial services business without holding an Australian financial services (AFS) license. He was sentenced to 12 months imprisonment, suspended forthwith on condition that he be of good behaviour for a period of 5 years.

The charges relate to Mr Pousa’s conduct between September 2011 and June 2012 as the sole director of IIC.

Peter Kell ASIC
Peter Kell, ASIC

ASIC Deputy Chair Peter Kell said:

Mr Pousa and his company exposed investors worldwide to significant financial losses with no recourse since the company was not licensed. As in this case, acting outside the licensing regime and facilitating others to do is a criminal offence and has significant consequences.

The Commonwealth Director of Public Prosecutions prosecuted the matter.

Background

In July 2012, ASIC froze more than $3 million in funds held by IIC as part of its investigation ASIC also obtained orders preventing Mr Pousa from leaving the country.

ASIC subsequently obtained orders to wind up IIC on just and equitable grounds.

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ASIC charges NSW director with unlicensed financial services business

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