Aggregated News From Investment Management Regulators

Douglas Johnston successfully appeals three of nine counts of obtaining financial advantage by deception

Report/Flag

Please complete the required fields.



On 10 February 2021, Mr Douglas Gordon Johnston was partially successful in appealing his conviction of obtaining a financial advantage by deception.

The Victorian Court of Criminal Appeal overturned three counts of obtaining  financial advantage by deception contrary to section 82(1) of the Crimes Act 1958 (Vic), but upheld six counts of the same charge.

The Appeal Court held that the depositional evidence of two witnesses should not have been admitted in Mr Johnston’s trial.  It held that the medical evidence relied on by the prosecution was inadequate to establish that the witnesses were unable to give evidence at the trial.

At trial, Mr Johnston was sentenced to six years imprisonment, with a non-parole period of three years, for defrauding investors of approximately $815,000 (19-107MR).

The Victorian Court of Criminal Appeal has ordered a retrial for the three charges on a date yet to be fixed.

The Court of Appeal will re-sentence Mr Johnston on the remaining six charges at a later date.

The Commonwealth Department of Public Prosecutions prosecuted the matter after a referral from ASIC.

Background

Maureen and Douglas Johnston were originally charged together and on 20 December 2017, Mrs Johnston pleaded guilty in the County Court of Victoria (15-397MR) and was sentenced to five years and six months imprisonment (18-391MR).

Mr Johnston was found guilty in the County Court of Victoria on 8 May 2019 (19-107MR).

This news item was originally published by the Australian Securities and Investments Commission (ASIC AU). For more information, please see the Source Link.

Regulator Information

Abbreviation: ASIC
Jurisdiction: Australia

Recent Articles

Implications of Russia’s invasion of Ukraine on half-yearly financial reports

See the Public Statement published by the Cyprus Securities and Exchange Commission (CySEC CY) here: Source link

Movement In Island’s Deposit Base

Published on: 20 May 2022 Deposits (net of local inter-bank placings) with Isle of Man offices of Isle of Man licensed deposit takers Deposits increased by £0.96 billion (2.58%) to £38.

Streamlining the Process of Rights Issue

This news item was originally published by the Securities and Exchange Board of India (SEBI IN). See the article here: Read more

LCG.fit (Clone of FCA authorised firm)

Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm. Find out...

Acadian-Asset.management (clone of FCA authorised firm)

Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm. Find out...

Get the latest from Regulatory.News in your inbox!

×