Richard Pusey banned ASIC mortgage for 10 years

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Richard Pusey, the man who filmed four police officers dying after a crash on Melbourne’s East Freeway, was banned from working as a mortgage broker for ten years after making false statements to authorities for several years.

The Australian Securities and Investment Commission on Tuesday said it revoked Pusey’s license after he filed seven false statements in credit license applications and statements of compliance between 2011 and 2017.

Richard Pusey.

Richard Pusey.Credit:

But the financial watchdog also banned the Porsche driver for reasons of character, saying he lacked honesty, judgment and “disregard for the law.”

“ASIC was satisfied that Mr. Pusey… lacked qualities such as good character, honesty and discretion; does not respect the law [and] one cannot rely on the fulfillment of the instructions of the authorities, ”the observer said.

It also stated that Pusey “is likely to violate lending and financial services laws and is not the right person to be involved in the financial services and lending industries.”

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“The ASIC barred Melbourne-based former mortgage broker Richard Pusey from providing financial services and lending activities, supervising financial services or lending business, and performing any functions related to financial services or lending business for 10 years. … “

The ASIC revealed that Pusey was a director of IKnow (Vic) Pty Ltd, which held a credit license from 2011 to 2015, and is currently the director of ISwitchNow Pty Ltd, which held a credit license from 2015 to 2019.

IKnow (since 2005) and Pusey (since 2013) have also been authorized to provide general advice on financial products as authorized representatives of the Australian Life Insurance Company, which is part of the Australian Life Insurance Group.

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