Event and Time
Event Description
Terence Nugara pleaded guilty to 39 charges of obtaining a financial advantage by deception and two charges of theft. The offenses occurred over a period from October 10, 2014, to January 9, 2019, while he operated a financial planning business called Skynet Financial Services Pty Ltd.
Application and Claims
- Charges:
- 37 counts of obtaining a financial advantage by deception (s 82(1) of the Crimes Act 1958) - 2 counts of theft (s 74(1) of the Crimes Act 1958)
- Defense: Terence Nugara contended that he lacked prior criminal history.
- Plea: Nugara entered a guilty plea and the prosecution presented a detailed document summarising the offending.
Judicial Decisions
- The court acknowledged the guilty plea and considered the circumstances of the offending before deciding on the appropriate sentence.
Dispute Points and Legal Basis
Dispute Points
- Prosecution's Argument:
- Nugara knowingly misled his clients about his financial services authority status. - He falsely represented property developments to investors while he was not legally authorized to conduct such investments. - 38 victims were misled into investing money, leading to the charges of deception and theft.
- Defense's Claim:
- Nugara's lack of prior criminal history was presented as a mitigating factor. - There was a focus on the nature of the deceived investments being for property developments not directly owned by Nugara.