ASIC permanently bans former NAB financial adviser
Content of Penalty:
ASIC has permanently banned Mr Max Kiattisak Eung (also known as Kiattisak Eungpongpan), of Tempe, New South Wales from providing financial services and engaging in credit activities.
Mr Eung was banned following an ASIC investigation into his conduct between March 2016 and December 2016 while he was a financial adviser with NAB. It was alleged that during this period Mr Eung engaged in conduct including:
- creating two false bank accounts in the names of his clients;
- falsifying documents to open the false bank accounts;
- causing withdrawals to be made from client funds to the false bank accounts and misappropriating client funds; and
- impersonating his clients to attempt to obtain access to funds in the second false bank account.