Cold-call Director Charged
Sydney Morning Herald
Tuesday August 13, 2002
Alan Goldman, the sole director of investor cold-calling company Mauer-Swisse Securities Ltd, was charged yesterday with operating without a securities dealers licence.
Mr Goldman, 47, appeared in Downing Centre local court after being arrested last Friday and was released on $10,000 bail.
He undertook to return to the court when required.
ASIC alleges Mr Goldman gave advice to Australian investors on behalf of Mauer-Swisse, a company incorporated in New Zealand, in relation to shares in Orbit E-Commerce Inc of the US.
Late last month ASIC obtained orders from Justice George Palmer in the NSW Supreme Court, prohibiting Mr Goldman from leaving Australia and requiring him to deliver his passport to the court.
The orders also prohibit Mauer-Swisse and Mr Goldman from transferring money or other property out of NSW or Australia, or continuing financial services without a licence.
ASIC's investigation shows that investors purchased their shares in Orbit E-Commerce or another company, New Hilarity Inc, through Dreyfus Securities Ltd, a Bangkok-based company which ASIC's consumer Web site says is involved in unlicensed overseas cold calling.
The matter returns to court on September 10. ASIC said its investigation was continuing.
© 2002 Sydney Morning Herald