Senen Pousa of Byron Bay appeared in the Brisbane Magistrates Court on Thursday 26 March, following an ASIC investigation.

Mr Pousa was charged with aiding and abetting his company, Investment Intelligence Corporation (IIC), to carry on a financial services business without holding an Australian financial services (AFS) licence between September 2011 and June 2012.

Section 911A(1) of the Corporations Act requires those carrying on a financial services business in this jurisdiction to hold an AFS licence.

If convicted, Mr Pousa faces a maximum penalty of 2 years imprisonment, a fine of $22,000, or both.

The matter was adjourned and is next scheduled for mention on 28 May 2015.

The Commonwealth Director of Public Prosecutions is prosecuting the matter.

Background

In July 2012 ASIC froze more than $3 million in funds held by IIC as part of its investigation (refer: 12-175MR). ASIC also obtained orders preventing Mr Pousa from leaving the country.

Editor's note 1:

On 28 May 2015 the matter was adjourned until 9 July 2015.

Editor's note 2:

This matter is next in court on 24 September 2015.

Editor's note 3:

On 24 September 2015 the matter was mentioned in Court and Queensland Legal Aid appeared and sought an adjournment in order to take instructions from Mr Pousa. The matter was adjourned until 22 October 2015.

Editor's note 4:

On 22 October 2015, the matter was listed for mention on 12 November 2015.

Editor's note 5:

On 12 November 2015, the matter was set down for 17 December 2015, for either a full hand up committal or a hand up committal with submissions from the defence. 

Editor's note 6:

On 17 December 2015, the matter was set for committal on 26 February 2016.

Editor's note 7:

On 11 February 2016, Mr Pousa was committed in the Brisbane Magistrates Court for trail in the Brisbane District Court. He did not enter a plea. He was committed by way of full hand up.

Editor's note 8:

On 30 August 2016, the matter was mentioned in and adjourned until 14 October 2016.

Editor's note 9:

At a mention on 14 October 2016, the matter was listed to commence trial for the week of 20 February 2017 for five to seven days.

Editor's note 10:

The matter has been re-listed for trial to commence 10 July 2017.

Editor's note 11:

The trial date set down to commence on 10 July 2017 has been vacated and is now set to commence on 9 October 2017.