13 dishonesty charges laid against former Melbourne financial planner

The Australian Securities and Investments Commission (ASIC) alleges that Bradley Grimm engaged in dishonest conduct on six occasions in 2015, by transferring funds between his clients’ SMSFs to three companies of which he was the sole director.

Mr Grimm is also believed to have transferred client funds to a superannuation fund, which his financial services business administered.

Additionally, ASIC alleges that on a further seven occasions in late 2015, Mr Grimm dishonestly transferred shares owned by his clients’ SMSFs to Equity Capital Partners Hedge Fund Pty Ltd, a company of which he was sole director.

Mr Grimm appeared via counsel in the Melbourne Magistrates Court on Thursday.

The charges follow ASIC’s successful action in the Federal Court for the winding up of Ostrava Equities Pty Ltd, Ostrava Asset Management Pty Ltd, Ostrava Securities Pty Ltd, Ostrava Wealth Management Pty Ltd, Beta Pharmacology Pty Ltd, Prometheus Capital Pty Ltd, Thrive Lending Pty Ltd, Trade BTC Pty Ltd and Equity Capital Partners Hedge Fund Pty Ltd.

Mr Grimm and his company Ostrava Equities Pty Ltd were, until 21 October 2015, authorised representatives of Australian Financial Services licensee Marigold Falconer International Limited (previously known as Falconer & Company Limited), whose AFSL was cancelled in August 2016.