Craig Gore unsuccessful in criminal appeal
The Queensland Court of Appeal has dismissed an appeal by Craig Gore against his conviction on six counts of fraud related to self-managed super funds (SMSFs) and he will be tried in August for three further charges.
In November 2020, Gore was sentenced to five years prison with a non-parole period of two years, after being found guilty of the fraud charges.
Gore lodged an appeal in November 2020, which was heard in February 2021 and the Court of Appeal found it was open to the trial judge to convict on the six counts of fraud.
Gore was initially arrested on 14 April, 2017, and charged with 12 counts of fraud relating to funds obtained from investors during 2013 and 2014.
The Australian Securities and Investments Commission (ASIC) alleged Gore obtained funds from SMSF investors through his role at Arion Financial by representing the investors could invest in debentures, with various promises that included a guaranteed high returns and that the funds could be returned after a short-term period of investment.
Gore was facing three further charges of acting in the management of three corporations (MOGS Pty Ltd, Sleipner Financial Pty Ltd and Arion) whilst disqualified from doing so.
These charges did not form part of the fraud trial and would return to the Queensland Magistrates Court for mention on 20 August, 2021, following delivery of the appeal judgement.
Each charge of acting in the management of corporations whilst disqualified carries a maximum penalty of one year imprisonment or fine up to $8,500.
Gore had been serving his sentence since he was remanded in custody in October 2020.
Recommended for you
The impact of identity theft and its threat to superannuation savings were highlighted in a case that went before the Federal Court at the end of 2023.
A recent NSW Supreme Court decision is an important reminder that while super funds may be subject to restrictive superannuation and tax laws, in essence they are still a trust and subject to equitable and common law claims, says a legal expert.
New research from the University of Adelaide has found SMSFs outperformed APRA funds by more than 4 per cent in 2021–22.
The SMSF Association has made a number of policy recommendations for the superannuation sector in its pre-budget submission to the government.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
215.17 3 y p.a(%)
2
Lakehouse Small Companies
152.92 3 y p.a(%)
3
Loftus Peak Global Disruption Fund Hedged
118.15 3 y p.a(%)
4
Global X 21Shares Bitcoin ETF
75.00 3 y p.a(%)
5
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
61.11 3 y p.a(%)
