Former financial adviser Ben Jayaweera jailed for 12 years for fraud

Former Financial Adviser Faces Justice After Defrauding Clients of Millions

Ben Jayaweera, a former financial adviser and director of Growth Plus Financial Group Pty Ltd (in Liquidation), has been sentenced to 12 years’ imprisonment following a hearing in the Brisbane District Court.

A jury found Mr Jayaweera guilty of 28 counts of fraud. Mr Jayaweera caused 12 former clients to lose a total of $5,958,870.

In sentencing, Mr Jayaweera, Judge Moynihan KC said Mr Jayaweera’s conduct was “brazen, gross, and callous” and said “his actions were not only criminal but evil, demonstrating no remorse’”

The judge said there was a gross breach of trust and the victims have suffered, and continue to suffer, substantial personal and financial harm.

Judge Moynihan KC said Mr Jayaweera was a trusted financial advisor and his actions were deliberate, sophisticated and systematic. Mr Jayaweera withheld information from his clients concerning the true nature of the fund and, in some cases, removed clients’ funds from self-managed super funds (SMSFs) without their knowledge or consent.

ASIC Deputy Chair Sarah Court said ASIC was committed to pursuing criminals who caused serious harm to people.

“Mr Jayaweera’s actions betrayed the trust of his clients with some clients at or near retirement age and caused them significant financial harm,’’ Ms Court said.

“ This sentence demonstrates that such behaviour will not be tolerated.”