Australian regulator ASIC has just announced that it has permanently banned Annabelle Martincic from providing financial services and engaging in credit activities.
Ms Martincic’s former partner was one of three directors of M3 Building and Construction (M3). Between late 2013 and April 2016, Ms Martincic did finance and accounting work for M3, under the job title Finance and Administration Manager.
Between 8 May 2014 and 18 April 2016, Ms Martincic used her position at M3 to make unauthorised payments by electronic transfers, with false descriptions, from M3’s bank accounts to four accounts, which included her own personal accounts. The unauthorised payments totaled $1,147,927.84.
Between May/June 2012 and May/September 2016, Ms Martincic was both an authorised representative and credit representative.
ASIC banned Ms Martincic after she was convicted and sentenced in June 2018, in separate proceedings in the District Court of Western Australia, of 185 counts of stealing.
Under the Corporations Act 2001 and National Consumer Credit Protection Act 2009, ASIC may ban anyone who is convicted of fraud.
Ms Martincic has the right to lodge an application for review of ASIC’s decision with the Administrative Appeals Tribunal.