简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:On April 20, 2023, ASIC announced in a statement that Steven Phillip Heaton of South Melbourne, Victoria, had been sentenced in the County Court of Victoria to six months’ imprisonment following his conviction on fraud charges.
On April 20, 2023, ASIC announces a statement that Steven Phillip Heaton of South Melbourne, Victoria, has been sentenced in County Court of Victoria to six months imprisonment following his conviction on fraud chargers.
Mr. Heaton was also ordered to complete a two-year Community Corrections Order.
Who is Heaton?
Steven Philip Heaton was a former director of Independent Product Pty Ltd CAN 169 714 032 (Deregistered) and HVPS Holdings Pty Ltd CAN 169 713 615 (In Liquidation). The companies were specifically incorporated to commercialise an air-conditioning invention that Mr Heaton claimed had significant energy efficiencies.
Crime
An ASIC investigation found that between 9 November 2015 and 20 January 2017, Mr Heaton dishonestly made false representations to a number of investors by claiming that BHP Billiton Limited (as it was known) had purchased 100 units for its mining operations when it had not. Consequently, investors collectively loaned to Independent Products, and invested with HVPS Holdings, a total of $1,092,500.33.
Mr Heaton was sentenced on 19 April 2023, with His Honour Judge Rozen remarking that Mr Heatons conduct constituted a deliberate and sophisticated fraud that enabled him to obtain over $1 million dollars over a seventeen-month period, and was a clear breach of trust.
As a result of his conviction for dishonesty offences, Mr Heaton is automatically disqualified from managing corporations for five years commencing from the date he is released from prison. His Community Correction Order will commence upon his release and requires that he perform 200 hours of unpaid community work.
The matter was prosecuted by the Commonwealth Director of Public Prosecutions after a referral from ASIC.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Proprietary trading firm The Funded Trader has detailed its financial recovery efforts following a turbulent period marked by an unsustainable payout model. Addressing these challenges publicly, the firm outlined the steps being taken to resolve outstanding obligations and ensure operational sustainability.
Doo Group has announced its acquisition of PT Prima Tangguharta Futures, a Jakarta-based broker specialising in online derivatives trading. This move represents a significant step in Doo Group's regional expansion strategy and reinforces its growing presence in Southeast Asia.
Webull partners with Coinbase Derivatives to offer crypto futures, providing US investors access to Bitcoin and Ethereum contracts with lower entry barriers.
eToro launches in New York, offering fractional stock, ETF, and options trading nationwide. Discover innovative features like copy trading and free education.