AD09-41 Sydney man in court for aiding and abetting unlawful early super release
Tuesday 10 March 2009
Mr Sonatane Haitoni Hafoka of Shalvey, New South Wales, has appeared today in the Downing Centre Local Court on a charge brought by ASIC under the Superannuation Industry (Supervision) Act 1993 and Criminal Code Act 1995.
Mr Hafoka (also known as Tane Hafoka, Jonathan Hafoka and Johnny Hafoka) is accused of aiding and abetting the trustee of the self-managed Kassongo Superannuation Fund (KSF), Mr Atan Kassongo, in dishonestly failing to ensure the fund was maintained in accordance with the sole purpose test.
ASIC alleges that the preserved superannuation benefits of 192 superannuants totalling $4,055,043 were deposited into the bank accounts of the KSF. These funds were rolled over from 56 complying superannuation funds. Mr Kassongo then allegedly used the KSF to obtain early access to these benefits by withdrawing and distributing the funds to the superannuants and agents engaged by him to assist in the unlawful early release scheme.
ASIC alleges that between 1 February and 21 December 2006, Mr Hafoka acted as an agent of Mr Kassongo and assisted at least 80 superannuants to rollover their superannuation into the KSF. In return, Mr Hafoka received commissions in excess of $300,000.
The charge against Mr Hafoka follows an investigation conducted by ASIC with the assistance of the Australian Taxation Office. Mr Hafoka has been committed to appear at the District Court on 20 March 2009 and was granted bail on conditions including that he maintain his current residence, surrender his passport, and not leave Australia.
Mr Kassongo has also been charged and he is due to next appear before the District Court on 27 March 2009.
The Commonwealth Director of Public Prosecutions is prosecuting both matters.
Background
In February 2009, ASIC obtained orders in the Supreme Court of New South Wales (by consent) preventing Mr Hafoka from providing financial services, carrying on a financial services business and leaving or attempting to leave Australia.
Editor's note: On Friday 20 March 2009, Mr Hafoka appeared in the Sydney District Court and was given a date for sentencing of 8 May 2009.
ASIC Website: Printed 09/07/2010
