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14-288MR NSW man jailed following $260,000 fraud
A New South Wales Central Coast man today was jailed for 18 months for committing a $260,000 fraud.
William John Jones, of Blue Haven, pleaded guilty in April 2014 to fraudulently misappropriating the money given to him by two investors for the purpose of share trading (refer: 14-081MR). Mr Jones used the money for his own personal benefit.
Facing the District Court of NSW, Mr Jones was sentenced to 18 months jail. He will serve 10 months before being eligible for parole.
ASIC Commissioner John Price said, ‘Mr Jones acted with complete disregard to the law and now must deal with the consequences of his behaviour.
‘The message is clear – ASIC does not tolerate any form of white collar crime and when offenders are caught, they will be punished appropriately.’
The Commonwealth Director of Public Prosecutions prosecuted this matter.