Group three
43 Count Twelve: This count related to a statement made in October 1996 to Julie Duell and John Duell to the effect that George Balos was the principal of a business formerly named British Marine Bank, which was undergoing a name change to Commodities International, and which invested funds deposited with it in property and shares in a totally safe manner, which statement was false in that George Balos was not then the principal of any such business.
44 On another visit by the applicant to Mr and Mrs Duell, on 1 October 1996, at the Pine Needles Retirement Estate, he learned that Mr Duell had $225,000 to invest, and required a steady income of $1,000 per month. The applicant advised Mr Duell to invest the funds with the British Marine Bank. The applicant stated that the money would be invested in property, shares and trust funds in a manner which he described as being "totally secure". He reassured them that they would not lose money.
45 Two loan agreements were prepared on this occasion, one in the name of Julie Duell in the sum of $10,000 and the other in joint names, in the amount of $215,000. The name George Balos of Commodities International was again used.
46 Mrs Duell questioned this name and was advised by the applicant that the British Marine Bank was undergoing a name change, and that for this reason the prospectus was unavailable, being currently at the printer. He assured them not to worry and said that he had "years of experience of dealing with them". As was his usual practice, he evidenced the signing of the agreements and received the monies.
47 Count Sixteen: This count related to a statement made on or about 3 February 1997 to Dawn Levy that George Balos was the representative in Australia of the British Marine Bank, a statement which was again false in that George Balos held no such position.
48 Upon receiving the applicant's advice, in December 1996, regarding the investment of monies obtained from her brother's estate, Miss Levy attended at the applicant's office on 3 February 1997 with a bank cheque in the amount of $100,000 made payable to Perpetual Trustees. Upon an inquiry by Miss Levy as to why a loan agreement was required, the applicant stated that the "bank had not been set up" and "this was the only legal way they could do it". He explained that Balos was the "bank's representative in Australia".
49 Count Seventeen: This count related to a statement made in March 1997 to Carole Jeanette Bryden that there existed a bank named British Marine Bank owned by George Balos, which was false as there was no such bank in existence.
50 On 5 March 1997 Miss Bryden gave the applicant a cheque in the sum of $100,000 made payable to Perpetual Trustees, following his visit to her home. This had occurred in response to the applicant's advice to her to invest money with the British Marine Bank, which he said was coming to Australia. He stated that he had known George Balos "for many years", and that he was "the owner of the British Marine Bank in England".
51 Count Eighteen: This count related to a statement made on or about 11 April 1997 to Ann Westren that Commodities International was a business working together with a company or companies in the Perpetual Trustees Australia Group, which statement was false in that there was then no person or entity carrying on business in the name of Commodities International or which was working or in any way associated in business with the Perpetual Trustees Group.
52 Miss Westren, having previously been a client of the applicant, had met him again in 1997 seeking to invest an additional amount of $140,000, being the proceeds from the sale of a property which she had owned in Winston Hills. The applicant's representations included the investment of this sum with the company. He asked her to make the cheque payable to Perpetual Trustees because they were "acting with Commodities International".
53 Count Nineteen: This count related to a statement made to Peter Fenton and Susan Fenton that there existed a bank named British Marine Bank, which was long established in England, had branches throughout Europe, was intending to commence business in Australia, and was using a shelf company, Commodities International, to set up its business in Australia. This again was false in a material particular in that there was no such bank of that description.
54 Mr and Mrs Fenton had attended the applicant's office in June 1997 to discuss investments with him. The applicant showed them a gold embossed statement which bore the name British Marine Bank and showed addresses in London, Zurich and Sydney.
55 The applicant stated it was a "very big bank" which had been "around for a very long time", and that it "intended to commence business in Australia". He said Commodities International was "a shelf company that was used by the British Marine Bank to set up the bank here in Australia".
56 The applicant prepared a loan agreement, however Mr and Mrs Fenton, who were the son in law and daughter of another victim, Dawn Levy, wisely elected not to invest any money at this time.
Group four
57 Count Twenty: This count related to a statement made to Peter Fenton and Susan Fenton that there existed an English Bank named British Marine Bank, deposits with which were secured against the bank's assets, "mainly real estate in England", which statement was again false in that there was no such bank.
58 Following upon Mr and Mrs Fenton's earlier meeting with the applicant, Mrs Fenton somewhat unwisely requested that a copy of the loan agreement be sent to her by facsimile. Upon its receipt Mr Fenton discussed the investment with the applicant, who confirmed that the monies which were to be invested with British Marine Bank were "secured against the bank's assets" which the applicant said were "mainly real estate in England". Subsequently Mr and Mrs Fenton forwarded a cheque drawn in favour of Perpetual Trustees for $87,581.98 to the applicant.
59 It has been necessary to set out the facts of each of the counts in order to have some appreciation of the objective criminality involved in the reckless representations made by the applicant to those unfortunate investors who came into his clutches.