An Australian fraudster has been jailed for 14 years, a record sentence for an Australian court to impose in conjunction with an ASIC criminal investigation.
The Supreme Court of Western Australia sentenced Chris Marco today (30 October) following a jury conviction on 4 September when he was found guilty of 43 fraud offences relating to six investors totalling more than $34m.
ASIC deputy chair Sarah Court said the sentence puts an end to “a distressing chapter for investors who were stung by Mr Marco’s calculated and long running deceitful practices”.
“Mr Marco’s case represents one of the most serious frauds ASIC has ever investigated,” she said. “This sentence reflects the seriousness of Mr Marco’s fraud and the impact it had on investors.”
Court added the prosecution is “a significant milestone for ASIC”.
The ASIC investigation spanned four years and alleged that between July 2013 and October 2018 Marco obtained over $36.5m from nine investors with intent to defraud, by deceit or fraudulent means.
Marco was initially charged with 50 counts of fraud in July 2022 and the matter proceeded to trial on 43 counts of fraud listed on the indictment. Following ASIC’s continued investigation, it was further alleged that between February 2014 and October 2018, Marco’s former executive assistant, Linda Marissen, helped Marco defraud more than $29.5m from six investors.
Marco will serve 12 years before being eligible for parole.
