Former financial services company director and financial adviser Donald Cuthbertson has been charged with 24 offences in an indictment filed on 28 August 2026 in the Federal Court of Australia.

The charges include 10 offences contrary to section 1041E of the Corporations Act 2001 (Cth) (Corporations Act), 12 offences contrary to section 1041G of the Corporations Act and two offences contrary to section 43(1) of the Crimes Act 1914 (Cth).

On 11 September 2026, Mr Cuthbertson was arraigned on these charges in the Federal Court of Australia and entered pleas of not guilty.

These offences relate to the conduct of Mr Cuthbertson in his capacity as sole director of Professional Wealth Management Pty Ltd (PWM) and related companies, Professional Wealth Management Services Pty Ltd (PWMS) and Professional Wealth Investments Pty Ltd. PWMS held an Australian financial services (AFS) licence until it was cancelled by ASIC in 2023.

It is alleged that between 11 December 2018 and 6 May 2025, Mr Cuthbertson made a series of false, misleading and/or dishonest representations to existing and prospective PWM investors. Further, it is alleged that Mr Cuthbertson attempted to pervert the course of justice by communicating with and sending draft affidavits to two prosecution witnesses.

The matter is being prosecuted by the Office of the Director of Public Prosecutions (Cth) following referral of a criminal brief by ASIC.

Background

PWMS was an Australian financial services business based in Sydney which held an AFS licence from March 2015 until it was cancelled by ASIC in August 2023. At that time, ASIC also permanently banned Mr Cuthbertson from providing any financial services, performing any function involved in carrying on a financial services business, and controlling an entity carrying on a financial services business.

On 25 July 2025, Mr Cuthbertson was charged with dishonest conduct following an ASIC investigation (25‑149MR).

On 5 March 2026, additional charges were brought against Mr Cuthbertson (26-039MR).

The maximum penalty for each offence contrary to s 1041E of the Corporations Act is ten years' imprisonment and / or a fine in the amount of 4,500 penalty units or three times the total value of the benefits obtained for conduct which occurred before 13 March 2019, and 15 years' imprisonment for conduct which occurred on or after 13 March 2019.

The maximum penalty for each offence contrary to s 1041G of the Corporations Act 2001(Cth) is 15 years' imprisonment.

The maximum penalty for each offence contrary to s 43(1) of the Crimes Act 1914 (Cth) is 10 years' imprisonment.

On 7 August 2026, Mr Cuthbertson was granted bail in the Federal Court of Australia, on the terms and conditions previously granted by the Local Court of New South Wales.