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ASIC Bars Tasmanian Resident Convicted of Stealing AU$2.5 Million

Posted: Wed May 31, 2017 10:36 am

Patrick Simon Mitchell, a Tasmanian citizen, has been blacklisted by ASIC from offering financial services in Australia after pleading guilty to 25 counts of theft in Tasmania’s Supreme Court on March 2 2017. Mr. Mitchell will serve eight years in prison, and will become eligible for parole only after having served five years of his sentence.

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Mr. Mitchell has been accused of embezzling a total of AU$2,354,497 from a client under the guise of providing him with financial services. Mr. Mitchell then used the funds that were ... (read more)