03-266 Property adviser jailed
Thursday 21 August 2003
Mr Mervyn Alexander Roach, of Eltham Victoria, was today sentenced by Judge Gullaci in the County Court of Victoria to two and half years in jail with a minimum period of eighteen months on six charges laid by the Australian Securities and Investment Commission (ASIC).
Mr Roach, a former licensed securities representative, previously pleaded guilty to three counts of obtaining property by deception to the value of $53,000 and three counts of obtaining financial advantage by deception to the value of $250,000.
Between January 1998 and April 1999, Mr Roach promoted a number of different property-related investments to Melbourne investors.
In five cases, Mr Roach accepted investment money from clients for use in specified investments that he was promoting. In four of these cases, Mr Roach directed those funds to Tyndale Central Pty Ltd (Tyndale), a company of which he was the sole director, for the purpose of meeting Tyndale’s debts, rather than for the investment purposes of his clients. In the fifth case, Mr Roach directed the money into a Visa Card account.
This matter was prosecuted by the Commonwealth Director of Public Prosecutions.
ASIC Website: Printed 01/06/2009
