Monday 7 August 2006 06 – LAWFUEL – Law News Network – Mr Neville John Kakoschke, a former options advisor and stockbroker, has pleaded guilty today in the Adelaide District Court to 27 forgery charges arising from an investigation by the Australian Securities and Investments Commission (ASIC).
A further 25 forgery charges were acknowledged. Mr Kakoschke, of Thorngate in South Australia, was employed as a dealer’s representative of two stockbroking firms, Dicksons Limited, between July 1997 and June 2002, and Bell Potter Securities Ltd, between June 2002 and April 2003. ASIC alleged that between 13 September 2001 and 11 March 2003, Mr Kakoschke forged collateral lodgement forms thus allowing him to use his clients’ shares without their consent as security for trading on other clients’ accounts as well as for his personal options accounts.
This placed clients’ shares worth about $1,283,980 at risk without their knowledge. As a consequence of Mr Kakoschke’s trading, some of his clients had no further collateral available to enable them to continue options trading. It is alleged that rather than tell these clients the true situation, Mr Kakoschke forged the third party collateral forms and used this collateral to continue trading on these accounts. The charges are being prosecuted by the Commonwealth Director of Public Prosecutions.
Mr Kakoschke has been remanded on bail for sentencing in the District Court on 29 September 2006. For further information contact: Allen Turton Deputy Executive Director, Enforcement Telephone: 02 9911 2338 Mobile: 0411 549 236 Emma Forehan ASIC Media Unit Telephone: 03 9280 3354 Mobile: 0409 702 310