february: When police arrested him in 2014, he was living in an expensive Paddington home, surrounded by luxury goods which were purchased off the proceeds of crime, according to Australian Broadcasting Corporation. He is eligible for parole in February but was seeking leave to appeal against his sentence on the grounds it was excessive . The Court of Appeal handed down its decision on Tuesday, rejecting his bid. Brian John Kelly, 36, is serving an eight-and-a-half year sentence for a fraud involving fake investment companies which fleeced more than 1.3 million from mum and dad investors across two years. Kelly was sentenced earlier this year after pleading guilty to setting up to two fake investment companies - M6 Trading Group or M6 Securities Group and Finance Management Group FMG . Police found he set up bank accounts, websites, office space, and telemarketers to make the companies look legitimate, before cold-calling members of the public and offering them stocks and shares which did not exist. Only about 210,000 was ever returned; 159,000 by banks who had become suspicious of the activities and about 51,000 seized from Kelly and other offenders. At least 36 people lost more than 1.3 million before he was caught.
(news.financializer.com). As
reported in the news.
Tagged under february, goods topics.