The Australian Securities & Investments Commission (ASIC) reported that the Victorian Court of Appeal refused former Melbourne financial planner Bradley Grimm leave to appeal his dishonesty conviction and 18-month prison sentence, meaning his conviction and term of imprisonment stand. Grimm was convicted on 5 September 2024 of three counts of engaging in dishonest conduct between February and November 2015 while running a financial services business. He had pleaded guilty to dishonestly transferring funds between two clients’ self-managed superannuation funds (SMSFs) to three separate companies of which he was the sole director and which had little market value, and to transferring shares and convertible notes owned by a client’s SMSF into a company without adequately advising the client of his directorship and personal interest. He also failed to tell the client that ASIC had sought the winding up of related entities and that he was banned from providing financial services by Federal Court order; the Court of Appeal rejected his arguments that there had been a miscarriage of justice or that the sentence was manifestly excessive, describing the sentence as lenient.
Australian Securities & Investments Commission 2025-02-19
Australian Securities & Investments Commission reports Victorian Court of Appeal dismisses Bradley Grimm appeal against dishonesty conviction and sentence
The Victorian Court of Appeal denied former Melbourne financial planner Bradley Grimm's request to appeal his dishonesty conviction and 18-month prison sentence. Grimm was convicted for dishonest conduct involving fund transfers between clients' SMSFs and companies he directed, without proper disclosure. The court deemed the sentence lenient and dismissed claims of a miscarriage of justice or excessive sentencing.