WA man charged with fraud over false ASIC letter

Warren Scott Magness, of Balcatta, appeared in the Perth Magistrates Court on Friday February 22 2005, charged with one count of using a false Commonwealth document following an investigation by the Australian Securities and Investments Commission. ASIC alleges that Mr Magness used a false document, namely a letter dated December 27 2002 and purportedly signed by Peter Kell of ASIC. It is alleged Mr Magness used the letter with the intention of dishonestly inducing Lucien Lagrange, a client of Mr Magness’, to accept it as genuine, and if it was so accepted, dishonestly obtaining an advantage. The alleged false letter indicated that Mr Magness’ employer, SAS Global was being investigated by ASIC and that ASIC had frozen funds of $170,058.47 held at the Australian Stock Exchange in the name ‘direct dealers account ASX’. This money had been invested by Mr Lagrange. Mr Magness has been bailed to reappear at the Perth Magistrates Court on March 31 2005. The charges are being prosecuted by the Commonwealth director of public prosecutions.

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