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Ex-Top Silk 'Shunned' over Attempted Class Action Fraud
He faces up to 5 years in prison after prosecutors said he inflated fees and used false invoices to claim more than $1 million.
- On Thursday, former senior counsel Norman O'Bryan pleaded guilty in Melbourne's County Court to one count of attempting to obtain financial advantage by deception involving the Banksia Securities class action.
- Banksia Securities collapsed in October 2012, owing about $663 million to more than 16,000 debenture holders; O'Bryan falsely inflated fees and used fake invoices to claim billable hours he never worked, prosecutors told the court.
- Elderly victims recounted "seven years of hell" caused by the fraud, which was uncovered after Wendy Botsman, a retired nurse and debenture holder, appealed the settlement because of excessive legal fees.
- Barrister Neil Clelland KC argued O'Bryan has been "shunned" by the legal profession and requested a community work order, though the charge carries a maximum sentence of five years' prison.
- Sentencing is scheduled for May 14, as the former counsel—who hails from one of Victoria's most respected legal families—was previously struck off and declared bankrupt in 2020.
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Banksia silk says he's already been punished, should not go to jail
Save (0) Please login to bookmarkClose Username or Email Address Password Remember Me Former silk Norman O’Bryan argued Thursday for no prison time after pleading guilty in a criminal case over his role in the Banksia Securities class action. And he could win the argument, with a judge saying she was considering a community service sentence. Subscribe to Lawyerly to access this article.Already a subscriber? Username o…
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Total News Sources12
Leaning Left4Leaning Right4Center2Last UpdatedBias Distribution40% Left, 40% Right
Bias Distribution
- 40% of the sources lean Left, 40% of the sources lean Right
40% Right
L 40%
C 20%
R 40%
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