Ms Yat Nam (April) Yuen, of Sydney, New South Wales, has been charged with aiding and abetting former stockbroking firm BBY Limited (BBY) to engage in dishonest conduct in relation to a financial service.

Ms Yuen, who held various roles at BBY including Manager – Strategy, is charged with two offences contrary to sections 1041G(1) and 1311 of the Corporations Act 2001 (Cth) and section 11.2 of the Criminal Code (Cth).

ASIC alleges that on about 13 June 2014, Ms Yuen instructed St George Bank, a division of Westpac Banking Corporation, to transfer $6,800,000 of client money out of BBY’s Futures client segregated account, a client money account, and then to other accounts.

ASIC alleges these instructions had the intention of funding a margin payment to ASX Clear Pty Ltd, in breach of BBY’s obligation to hold that client money on trust.

ASIC further alleges that on about 31 March 2015, Ms Yuen instructed St George Bank to transfer $350,000 of client money out of BBY’s Futures client segregated account and $1,600,000 of client money out of BBY’s Saxo Buffer account, also a client money account, to BBY’s Operating Account held with National Australia Bank Ltd.

ASIC alleges these instructions had the intention of funding a corporate payment, in breach of BBY’s obligation to hold those client monies on trust.

Ms Yuen appeared in the Downing Centre Local Court on 28 November 2023. The matter was adjourned for further mention on 6 February 2024.

The matter is being prosecuted by the Commonwealth Director of Public Prosecutions.