R v Simon Charles Patrick FINNIGAN [2011] NSWDC 226

R v Simon Charles Patrick FINNIGAN [2011] NSWDC 226

A term of imprisonment of 10 years, with a non-parole period of 6 years, is appropriate given the offender's dishonest conduct constituting a Ponzi scheme over a number of years in breach of s 1041G of the Corporations Act 2001 (Cth), the large losses to multiple victims, lack of genuine remorse, high risk of re-offending, and to serve as a deterrence to others, while having regard to the principle of totality and the offender's guilty plea reducing but not eliminating his sentence.

Parties
Prosecutor: Regina; Offender: Simon Charles Patrick Finnigan
Jurisdiction
Australia
Judgment Date
16 December 2011
Procedural Posture
Criminal / Sentencing
Outcome
The offender is sentenced to imprisonment for 10 years with a non-parole period of 6 years.
Legal Topics
Sentence, Fraud, Ponzi Scheme, Dishonest Conduct in Relation to Financial Product
Criminal Law Sentence Fraud Ponzi Scheme Dishonest Conduct in Relation to Financial Product

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Parties

Regina

Prosecutor

Simon Charles Patrick Finnigan

Offender

Procedural Posture

Criminal / Sentencing

Legal Issues

  1. 1 Appropriate sentence for offences of dishonest conduct in relation to financial products contrary to s 1041G of the Corporations Act 2001 (Cth)
  2. 2 Application of sentencing principles including totality, general and individual deterrence, and prospects of rehabilitation for Ponzi scheme offender

Ratio Decidendi

A term of imprisonment of 10 years, with a non-parole period of 6 years, is appropriate given the offender's dishonest conduct constituting a Ponzi scheme over a number of years in breach of s 1041G of the Corporations Act 2001 (Cth), the large losses to multiple victims, lack of genuine remorse, high risk of re-offending, and to serve as a deterrence to others, while having regard to the principle of totality and the offender's guilty plea reducing but not eliminating his sentence.

Court Disposition

The offender is sentenced to imprisonment for 10 years with a non-parole period of 6 years.

Orders

  • Simon Charles Patrick Finnigan is sentenced to a term of imprisonment of 10 years to commence on 16 December 2011 and expiring on 15 December 2021.
  • Non-parole period set at 6 years; offender eligible for parole on 15 December 2017.