Monday 25 June 2007 – LAWFUEL – Australia Business Law Newswire – Mr Anthony John Ryan, of Doncaster, Victoria, was today committed in the Melbourne Magistrates Court to stand trial on seven charges brought by the Australian Securities and Investments Commission (ASIC). Mr Ryan, 53, reserved his plea to dishonestly using his position to gain an advantage for himself or another with respect to business he transacted through insurance broker, Interre Insurance Brokers Pty Ltd (Interre Insurance Brokers), for insurance risks placed with QBE Mercantile Mutual during 2003 and 2004.
Mr Ryan is also charged with dishonest conduct in relation to the carrying on of a financial services business under the Corporations Act. These charges follow allegations that Mr Ryan received insurance premiums on behalf of Interre Insurance Brokers, but failed to either remit the full amount of these insurance premiums to Interre Insurance Brokers, or provide the full details relating to the insurance premiums collected to the other director of Interre Insurance Brokers. As a consequence of his conduct, the insurer QBE Mercantile Mutual neither received the full amount of the insurance premiums collected nor the full details of insurance premiums collected.
Mr Ryan was bailed to appear in the Melbourne County Court on 31 August 2007. The matter is being prosecuted by the Commonwealth Director of Public Prosecutions. For further information contact: Jan Redfern Executive Director, Enforcement Telephone: 02 9911 2191 Mobile: 0411 119 210 Emma Forehan ASIC Media Unit Telephone: 03 9280 3354 Mobile: 0409 702 310