The Australian Securities & Investments Commission announced that Michael Dunjey, a director of Ascent Investment and Coaching Pty Ltd, has been charged with 33 criminal offences and appeared in the Perth Magistrates Court on 9 May 2025. The case follows an ASIC investigation into concerns that the company raised funds through misrepresentations to investors and improperly dealt with investor funds. The charges comprise 23 counts of fraudulently obtaining a benefit under section 409 of the Criminal Code 1913 (WA) relating to more than $4 million in investor funds, five counts of failing to act in good faith under section 184 of the Corporations Act 2001 relating to the use of just under $2.5 million, and five counts of falsifying company books under section 1307 of the Corporations Act relating to the company’s annual returns. ASIC linked the criminal proceedings to its 2022 Federal Court civil action to wind up Ascent and the unregistered managed investment scheme it operated; the prosecution is being conducted by the Commonwealth Director of Public Prosecutions. The matter was adjourned to 4 July 2025.
Australian Securities & Investments Commission 2025-05-09
Australian Securities & Investments Commission investigation results in 33 criminal charges against Ascent director Michael Dunjey
ASIC has charged Michael Dunjey, director of Ascent Investment and Coaching Pty Ltd, with 33 criminal offences for fund misrepresentations and mishandling investor funds. Charges include 23 counts of fraudulently obtaining over AUD 4 million, five counts of failing to act in good faith concerning nearly AUD 2.5 million, and five counts of falsifying company books. These proceedings relate to ASIC's 2022 civil action to wind up Ascent and its unregistered investment scheme, prosecuted by the Commonwealth Director of Public Prosecutions.