Director Tania Oakley pleads guilty to using $770,000 from fake investment company to buy house and travel.

| July 25, 2012

For investment adviser Tania Oakley, success was as simple as knowing how to grab the money floating all around you.

“There are two ways to create wealth – increase the number of strategies you employ, or increase the frequency of those strategies,” reads a quote on the website of Tania Oakley business website, Fintel Financial Intelligence. – http://www.fintel.com.au

“There is plenty of money floating out there all around you. Knowing how to get hold of it and keep it, could be the beginning of a new life for you.”  Tania Oakley quoted.

Tania Oakley has proved to be something of an expert of knowing how to get hold of other people’s money – last week the Queensland company director pleaded guilty to three criminal charges after admitting she took money from investors and used it to purchase a house.

Tania Oakley, of Noosa Heads in Queensland, now Bankrupt, was the sole director of Fintel and another company called Tanoak, which was based on Queensland’s Sunshine Coast and purported to be an investment firm with a focus on equity trading.

While Fintel offered trading education, Tanoak and Tania Oakley did infact raise money from investors based on the Sunshine Coast as well as clients in Brisbane, Canberra and Sydney.

Both companies were placed in the hands of liquidator John Cunningham of Worrell’s in June, following an order from the Supreme Court of Queensland.

Tania Oakley faced court last week, pleading guilty to using $766,900 of investor funds to purchase a house in 2007.

Tania Oakley also admitted issuing false financial statements to 10 investors to cover up trading losses she had accumulated over the years and misleading investors.

ASIC also alleged that between January 2009 and November 2009, Tania Oakley also carried on an investment business without an Australian Financial Services Licence in place and mislead her clients in the process.

Tania Oakley will now wait to be sentenced later in 2012  in the Maroochydore District Court on the sunshine coast.

Tania Oakley faces a maximum penalty of $220,000 or imprisonment for five years, or both, for one count of directly or indirectly gaining an advantage for herself, with the same penalties applying for engaging in dishonest conduct in relation to a financial product or financial service.

Tania Oakley also faces a maximum penalty of $2,200 or imprisonment for up to two years, or both, for one count of carrying on a financial services business without holding an AFS licence.

Tania Oakley was not available for comment today, but a criminal lawyer said this is a horrible situation for victims of this scandalous crime, and a warning to others to beware of clean cut business people who are preying on many unsuspecting victims in these dire economic times, and to investigate all investment opportunities thoroughly before throwing money in someone’s lap.

 

Contact: Henry Goldsmith
Phone: +6176499384
Email: scams@scamwatch.com
Web: www.scamwatch.com

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Category: Press

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