Sunday, June 4, 2023
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ASIC-banned worker charged with unlicenced credit score

A Cairns pawnbroker and banned worker has been taken to court docket in relation to unlicenced credit score.

Colin Hulbert, a former director of Money Lenders, has been charged with participating in credit score exercise and not using a licence in addition to with participating in conduct that contravened an order banning him from participating in any credit score actions.  

ASIC alleged that from July 2015 to Could 2020, Hulbert and Money Lenders issued pawn tickets which had been really credit score contracts as they included a time period permitting the pawnbroking enterprise to take debt restoration motion in opposition to clients for any unpaid money owed.   

Each Hulbert and Money Lenders have additionally been charged in relation to altering books which had been provided to ASIC throughout its investigation.

In 2017, Hulbert ceased being a director of Money Lenders and have become its worker, after he transferred the enterprise possession to his spouse.

In 2018, he was completely banned by ASIC from participating in credit score exercise after he was discovered to have been knowingly concerned in 73 contraventions of credit score laws between 2008 and 2012.

Hulbert was in a position to proceed working as a pawnbroker after the ASIC ban as this fell outdoors the scope of nationwide credit score laws.

ASIC mentioned the issues had been heard within the Cairns Magistrates Court docket on April 18 and are adjourned to June 13.  

The matter is being prosecuted by the Commonwealth Director of Public Prosecutions following an ASIC investigation.



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