Criminal forgery charges filed against ‘financial adviser’

The man was sentenced at the Manukau District Court on 33 charges of sexual assault. Photo / NZME

A man purporting to be a financial adviser allegedly used a forged letter to solicit business.

Yuen Pok (Paul) Loo has been charged with offences under financial markets legislation.

The Financial Markets Authority/Te Mana Tātai Hokohoko said Loo was charged with forgery, using a forged document, providing financial services when not registered, and failing to comply with the FMA’s orders.

The most serious charge, forgery, carried a maximum penalty of 10 years’ imprisonment.

The FMA said charges were filed at Manukau District Court.

The regulator alleged Loo forged a letter purporting to be from the FMA granting his company Wisdom House Investment Partners Ltd a full financial advice provider (FAP) licence.

The regulator said Loo sent that letter to his clients.

The charges also related to Loo allegedly providing financial advice without a registration when he was required to be registered.

In August 2022, the FMA issued a permanent “stop order” against Loo and Wisdom House.

The regulator said Loo was Wisdom House’s sole director and shareholder.

The FMA said Loo had falsely claimed to be a financial adviser in an email to clients and attached a “forged” FAP licence to that email.

“Following the issuing of the permanent stop order, the FMA opened a criminal investigation into Mr Loo, resulting in the filing of these criminal charges,” the agency said today.

The FMA said Loo’s first court appearance was yesterday and he was remanded without plea until June 13.