How ASIC handled 6 misconduct reports against one man

Mike Taylor

Managing Editor and Publisher

25 June 2024

The Australian Securities and Investments Commission (ASIC) has admitted to a Senate committee that a man who it earlier this year disqualified from managing corporations for five years was first brought to ASIC’s attention in 2017.

ASIC also confirmed that the man, Anton Wilson, had been the subject of six reports between 2017 and 2023 but ASIC decided to take no further action “due to insufficient evidence to suggest a breach of the laws ASIC administers.

It said allegations made in the reports between 2017 and 2023 included “alleged mismanagement, operating an unregistered managed investment scheme, raising funds from persons outside of Australia, misleading and deceptive conduct, managing corporations whilst disqualified, and that Mr Wilson appointed a person as a director of a company when that person had not consented to being a director”.

“The allegations raised in the reports were considered, with no further action taken due to insufficient evidence to suggest a breach of the laws ASIC’s administers. Also, some of the alleged misconduct related to breaches of foreign laws that were best considered by the overseas corporate regulator,” the ASIC response said.

Answering a question on notice from NSW Liberal Senator, Andrew Bragg, ASIC said it started investigating Wilson in June 2021 following the receipt of a supplementary statutory report from a registered liquidator, requested and funded by ASIC through the Assetless Administration Fund.

It said the outcome of the matter was that Wilson and his wife were disqualified for vie years each, in February, 2022.

It noted that an ASIC delegate found that Wilson:

• was acting while disqualified (being an undischarged bankrupt); – caused false documents to be lodged with the ATO which resulted in him obtaining GST refunds of over $8m which he was not entitled to;
• used company funds for his own benefit or for the benefit of parties related to him;
• failed to lodge tax returns and either failed to keep proper records or failed to provide those records to the liquidator.

“A further investigation into suspected contraventions of the Corporations Act commenced on 1 February 2024. This investigation is still on foot,” ASIC said.