The Australian Securities & Investments Commission announced that additional criminal charges have been laid against Donald James Cuthbertson, a former financial services company director and financial adviser, over alleged dishonest representations to investors and alleged communications with prosecution witnesses after proceedings commenced. Court documents filed in the Local Court of New South Wales on 10 February 2026 added 11 charges relating to dishonest conduct and two charges for attempting to pervert the course of justice, while two existing charges were withdrawn, taking the total to 18. The dishonesty allegations relate to representations made between 11 December 2018 and 9 September 2025 to potential investors in Professional Wealth Management Pty Ltd about purported robotic trading technology and claimed future share valuations, earnings, dividends and plans to float on the Australian Securities Exchange, including representations allegedly made after investors acquired shares. The matter is being prosecuted by the Commonwealth Director of Public Prosecutions following ASIC’s referral of a criminal brief. Mr Cuthbertson appeared in court on 10 February 2026 and the proceedings were adjourned to 14 April 2026 for committal mention. ASIC also noted that it cancelled the Australian financial services licence of Professional Wealth Management Services Pty Ltd in August 2023 and permanently banned Mr Cuthbertson from providing financial services at that time.

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