Mr Arunesh Narain Maharaj, of Sydney, New South Wales, the former Chief Executive Officer of stockbroking firm BBY Limited (BBY), has appeared in the Downing Centre Local Court charged with aiding, abetting, counselling or procuring fraud.
ASIC alleges that Mr Maharaj aided, abetted, counselled or procured offences by another former BBY employee, who, by deception, dishonestly obtained a financial advantage for BBY from St George Bank, a division of Westpac Banking Corporation. The financial advantage was obtaining additional funding by way of improperly drawing down on an overdraft facilitation account which BBY held with St George Bank which BBY was not entitled to.
Mr Maharaj has been charged with two counts contrary to sections 192E(…
Read the full article at: https://asic.gov.au/about-asic/news-centre/find-a-media-release/2023-releases/23-273mr-former-bby-chief-executive-officer-charged-with-aiding-and-abetting-fraud/