13-032MR Former Hogan and Partners stockbroker sentenced to jail for $7.5 million fraud
Friday 22 February 2013
Mr Jonathan Kur, formerly of Hogan and Partners Stockbrokers Pty Ltd, was sentenced in the Perth District Court yesterday to four years jail on three counts of fraud worth $7,556,773.
The charges followed an ASIC investigation into Mr Kur’s conduct in relation to options trading, and dealing in options for a number of clients based in Botswana. ASIC alleged that between May 2005 and December 2008, Mr Kur intentionally hid trading losses he accumulated on three overseas client accounts (refer 12-285MR).
'This is a strong message to the industry that honesty and integrity are vital in maintaining a healthy and functioning financial market,’ ASIC Commissioner John Price said.
‘Investor faith was significantly breached on this occasion and the severity of the sentence reflects the serious nature of the offence.'
The Commonwealth Director of Public Prosecutions prosecuted the matter.
In 2009, ASIC permanently banned Mr Kur from providing financial services (refer AD09-120).