{"id":75423,"date":"2025-01-24T15:46:25","date_gmt":"2025-01-24T04:46:25","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=75423"},"modified":"2025-01-30T10:41:32","modified_gmt":"2025-01-29T23:41:32","slug":"adviser-banned-for-stealing-from-clients-super","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2025\/01\/24\/adviser-banned-for-stealing-from-clients-super\/","title":{"rendered":"Adviser Banned for Stealing from Client&#8217;s Super"},"content":{"rendered":"<p>ASIC has made two orders permanently banning Queensland-based financial adviser <strong>David Eduardo Cubilla<\/strong> following his conviction of fraud in June 2024.<\/p>\n<p>The conviction relates to Cubilla stealing more than $100,000 from a client\u2019s superannuation account while he was an authorised representative of AMP Financial Planning (from 1 July 2014 to 2 June 2021).<\/p>\n<p>The ban took effect from 27 December 2024. ASIC can permanently ban a person from providing financial services and engaging in credit industries if they are convicted of fraud.<\/p>\n<p>Cubilla has been banned permanently from:<\/p>\n<ul>\n<li>Providing any financial services<\/li>\n<li>Performing any function involved in the carrying on of a financial services business<\/li>\n<li>Controlling an entity that carries on a financial services business<\/li>\n<li>Engaging in any credit activities<\/li>\n<li>Performing any function involved in the engaging in of credit activities, and<\/li>\n<li>Controlling, whether alone or in concert with one or more other entities, another person who engages in credit activities<\/li>\n<\/ul>\n<p>Cubilla worked with:<\/p>\n<ul>\n<li>Havana Financial Services Pty Ltd from 28 July 2021 to 20 June 2023<\/li>\n<li>AMP Financial Planning Pty Ltd (AMP Financial Planning) from 1 July 2014 to 2 June 2021<\/li>\n<li>GPL (VIC) Pty Ltd from 29 September 2011 to 22 May 2014, and<\/li>\n<li>Australian Financial Services Limited between 19 February 2008 and 29 September 2011<\/li>\n<\/ul>\n<p>In June 2024, Cubilla was convicted of fraud and sentenced to seven years&#8217; imprisonment. He will be eligible for parole in June 2026.<\/p>\n<p>Cubilla has the right to appeal to the Administrative Review Tribunal for a review of ASIC\u2019s decision.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ASIC has made two orders permanently banning Queensland-based financial adviser David Eduardo Cubilla following his conviction of fraud in June 2024. The conviction relates to Cubilla stealing more than $100,000 from a client\u2019s superannuation account while he was an authorised representative of AMP Financial Planning (from 1 July 2014 to 2 June 2021). The ban [&hellip;]<\/p>\n","protected":false},"author":23,"featured_media":75427,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48,8,3],"tags":[],"class_list":["post-75423","post","type-post","status-publish","format-standard","has-post-thumbnail","category-company-news","category-compliance-regulation","category-general"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/75423","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=75423"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/75423\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/75427"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=75423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=75423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=75423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}