AFL Grand Final border breach costs financial planner Mark Babbage job, license and 10 year ban
Border breacher Mark Babbage has now had his business torpedoed following a stint in a Perth jail cell for his efforts to watch the Demons Grand Final win.
Victoria
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Football fanatic Mark Babbage has copped a 10 year financial services ban after breaching West Australian border controls to watch the AFL Grand final last year.
The Melbourne-based financial Adviser was struck from the ASIC registry in March after being released after serving three months in jail after sneaking over the border.
This came after he plead guilty to gaining a benefit by fraud.
Mr Babbage was also given a six month suspended sentence in the Northern Territory after pleading guilty to three charges including contravening health directions and falsely claiming to live in the NT.
The former financial planner and his co-accused Hayden Burbank were arrested after flying to Perth, breaching Covid-19 border restrictions to watch the Grand Final.
The two men were reported to police after being photographed drinking beer and hugging Melbourne Demons football players after the game.
Melbourne won the 2021 Grand Final by 74 points, beating the Western Bulldogs 140–66.
Police arrested the two men while holidaying in WA’s Margaret River wine region.
As a result of the fraud offence convictions Mr Babbage has been banned by the Australian Securities and Investments Commission from providing a financial service or engaging in credit activities for 10 years.
The ban also sees Mr Babbage barred from controlling an entity that engages in credit activities or carries on a financial service.
He is also banned from performing any function related to the provision of credit services.
In addition Mr Babbgage is also automatically disqualified from managing a corporation for five years.
ASIC noted it was “satisfied that Mr Babbage lacks the honesty and integrity to participate in the financial services and credit industries”.
Prior to his banning Mr Babbage ran Babbage Finance and worked at Capstone Financial Planning.
Babbage Finance was a credit representative of My Local Broker.
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Originally published as AFL Grand Final border breach costs financial planner Mark Babbage job, license and 10 year ban
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