AFL Grand Final border breach costs financial planner Mark Babbage job, license and 10 year ban
ASIC has hit Mark Babbage with a suite of bans, torpedoing his business, after his efforts to watch the 2021 AFL Grand Final landed him in jail.
The Melbourne financial planner who broke West Australian border rules in an attempt to sneak into the AFL Grand Final last year has now been banned from practising for a decade.
Mark Babbage, 39, was jailed after being caught along with Hayden Burbank, 49, when they were caught creating fake documents to enter WA in the midst of a strict prohibition on interstate travel.
Mr Babbage went to significant lengths to attend the event, transferring his drivers license to one in the Northern Territory.
Mr Babbage was struck from the Australian Securities and Investments Commission-run registry in March after being released following a three month stint in a Perth prison. He had pleaded guilty to gaining by fraud.
Mr Babbage was also given a six month suspended sentence in the NT after pleading guilty to three charges including contravening health directions and falsely claiming to live there
Mr Babbage and Mr Burbank were reported to police after being photographed drinking beer and hugging Melbourne Daemons football players after the game.
In a statement on Monday, the corporate regulator said it had banned Mr Babbage from providing financial services or engaging in credit activities for ten years.
“The ban also prohibits Mr Babbage from controlling an entity that engages in credit activities or carries on a financial services business,” the statement reads. “Mr Babbage is banned from performing any function related to the provision of credit services.”
Mr Babbage was an authorised representative of Wealthsure until 2014, and Captsone Financial until 2021. His company, Babbage Finance, was also a credit representative of My Local Broker until late last year. As a result of his fraud conviction, Mr Babbage is also automatically disqualified from managing companies.
In its statement, the corporate regulator said it had been “satisfied that Mr Babbage lacks the honesty and integrity to participate in the financial services and credit industries”.
Melbourne won the 2021 Grand Final by 74 points, beating the Western Bulldogs 140–66.
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