Australian Securities & Investments Commission (ASIC) MEDIA RELEASE Page 1 of 1 Tuesday 13 November 2007 07-296
SYDNEY MAN FACES ASIC CRIMINAL CHARGE
Mr Adrian Camilleri, of Woolloomooloo, New South Wales, appeared in Sydney’s Downing Centre Local Court today on a charge brought by the Australian Securities and Investments Commission (ASIC). Mr Camilleri, the sole director of mortgage broking business, Asset Finance Service Pty Ltd (in liquidation), has been charged with one count of fraudulently misappropriating an investor’s money. This charge follows an ASIC investigation into Mr Camilleri’s conduct between December 2005 and September 2006. ASIC alleges that during this period Mr Camilleri failed to return approximately $123,442 to an investor and repay their principal investment.
Asset Finance Service Pty Ltd sourced lending capital from private investors who were willing to forward the required loan amount under the terms of a loan agreement.
The matter will return to the Sydney’s Downing Centre Local Court on 18 December 2007. The Commonwealth Director of Public Prosecutions is prosecuting the matter.