ASIC has removed Shaun Gregory Morgan (a.k.a. Shaun Monroe) as a company director.
This comes as a result of Mr Morgan, a 38-year old New Zealand national, being automatically banned from managing a corporation by virtue of section 206B(1)(c) of the Corporations Act 2001, ashe has been convicted in the United States of an offence that is punishable by imprisonment for a period greater than 12 months.
In 2009, Mr Morgan pleaded guilty in the United States District Court in Utah to bank fraud and was sentenced to 60 months imprisonment.
Mr Morgan was the sole director of the following Australian companies:
- Australian Capital Investment Group Pty Ltd (ACIG) (ACN: 169 480 880);
- Auscap Group Holding Pty Ltd (ACN: 603 681 072);
- Lotus Securities Advisors Pty Ltd (ACN: 166 485 445);
- Wolf Capital Investments Holdings Pty Ltd (ACN: 603 507 517);
- ACIG Mutual Fund Pty Ltd (ACN: 601 215 123);
- Al Fahim Investments Holding Group Pty Ltd (ACN: 603 434 591);
- Sumber Utama Alma Pty Ltd (ACN: 602 275 294);
- GTrade Securities Pty Ltd (ACN: 601 285 929).
In February, ASIC issued a public warning not to deal with Mr Morgan, as he was offering unlicensed financial services through a number of web sites. (REF: 15-016MR)
In June, Mr Morgan was permanently banned from providing financial services in Australia as a result of his conviction in the United States. (REF: 15-140MR)
ASIC is aware that Mr Morgan, although not currently residing in Australia, continues to approach Australian companies offering financial services.
Mr Morgan approaches ASX listed companies who are seeking to raise capital. He then requests an advance fee in exchange for facilitating the raising of capital via the use of corporate bonds.
ASIC Commissioner John Price said 'Due to Mr Morgan's unlicensed status and criminal history, ASIC strongly advises companies seeking to raise capital as well as other financial consumers to avoid dealing with him or companies associated with him.'
ASIC is investigating cases where companies have paid an advance fee to Mr Morgan for capital raising and services have not been provided.