Grimm Outcome for Dishonest Financial Planner
In DPP v. Grimm,[1] Bradley Grimm, a former financial planner from Melbourne was convicted by the Country Court of Victoria on three counts of engaging in dishonest conduct while running a financial services business. He was sentenced to 18 months in prison.
On five occasions between February 2015 and March 2015, Mr. Grimm transferred funds between two of his client’s self-managed superannuation funds (“SMSF”) to three separate companies of which he was the sole director (Thrive Lending Pty Ltd., Trade BTC Pty Ltd., and Beta Pharmacology Pty Ltd.). Mr. Grimm admitted that each of these companies had very little market value. On another seven occasions between November 5 and 11, 2015, Mr. Grimm transferred shared and convertible notes owned by his clients’ SMSF to Equity Capital Partners Hedge Fund Pty Ltd, without advising his client that it was a company of which he was the sole director and had a personal interest.[2] The clients included a 74-year-old retired hospital cleaner, a 60-year-old office manager, and a 60-year-old switchboard operator.[3]
The Court commented that these offences were underlined by the fact they are punishable by a maximum term of 10 years imprisonment. Further, that Mr. Grimm understood very well the personal circumstances of each of his victims and “must have appreciated that any loss to their limited retirement funds would be felt acutely.”[4] The Court also noted that these offences constituted a culpable breach of trust and professional responsibilities, especially given that the aggravating factor that in the commission of one of the offences, Mr. Grimm was already restrained by court order from providing financial services.[5]
Residential Care Home Manager Ordered to Return Ill-Gotten Gains
In 2015, former nurse Abha Anuradha Kumar met Lionel Cox, a 92-year-old man who became her patient at Cambridge House, a residential aged care facility in Collingwood, in Melbourne’s inner-city. Ms. Kumar, who was a nurse unit manager, quickly learned that Mr. Cox had no immediate family or will but owned a valuable property in nearby Fitzroy. Within three days of his admission, Ms. Kumar bought a will kit and three week later, persuaded two of her staff members to witness his handwritten will. Ms. Kumar, however, failed to tell her employees that she was listed as the executor and sole beneficiary to Mr. Cox’s estate. These employees were also unaware that Mr. Cox’s estate was valued at over $1,000,000.
After a short battle with pneumonia, Mr. Cox passed away on August 9, 2015. Despite not working that day, Ms. Kumar called the Cambridge House and demanded one of her staff members search his belongings for his house key, before his body was moved to a funeral home. Ms. Kumar became the ‘informant’ on Mr. Cox’s death certificate and obtained a grant of probate from the Supreme Court in November 2015. In April of 2016, she obtained a transfer of Mr. Cox’s house and in November, sold it for $1,117,000. She retained the proceeds of the sale along with additional property valued at $39,277.81.[6]
In December 2015, the Australian Health Practitioner Regulation Agency (“AHPRA”) received a complaint about Ms. Kumar and after investigating, referred her to the Victorian Civil and Administrative Tribunal on September 26, 2018. After a hearing the Tribunal disqualified Ms. Kumar from applying for registration for five years and prohibited her from providing any health service in aged or disability care for five years but emphasized that she will not necessarily be re-registered in five years’ time but rather, it will be a decision for the Agency to decide whether she is fit for registration.[7]
In August of 2021, Ms. Kumar was served with a ‘summons for revocation’ in a Supreme Court action launched by State Trustees, owned by the Victorian Government, in August 2021. The Trustee’s lawyers alleged Ms. Kumar did not execute Mr. Cox’s will in compliance with legislation and acted against his wishes.
On November 2024, Justice Melissa Daly of the Supreme Court ordered the grant of probate be revoked and ordered Ms. Kumar to repay the funds into a trust account managed by the court.[8] Although the value of the estate has dropped due to a series of transfers made by Ms. Kumar to cover legal fees, the over $880,000 that remains will be disbursed to Mr. Cox’s cousins. James Dimond, legal counsel for Mr. Cox’s cousin Geoffrey commented that
This is a rare situation involving a medical professional, but elderly and vulnerable people are separated from their assets or pressured to sign dodgy wills and other legal documents all the time … The court system is rife with elder financial abuse cases, usually involving close family members.[9]
—
[1] [2024] VCC 1360 [Grimm]
[2] Australian Securities and Investments Commission, “Former Melbourne financial planner Bradley Grimm sentenced to jail for dishonest conduct” (September 5, 2024), accessed online: https://asic.gov.au/about-asic/news-centre/find-a-media-release/2024-releases/24-196mr-former-melbourne-financial-planner-bradley-grimm-sentenced-to-jail-for-dishonest-conduct.
[3] Grimm, supra, at para. 3.
[4] Ibid., at para. 7.
[5] Ibid., at paras. 6-7.
[6] Nursing and Midwifery Board of Australia v. Kumar (Review and Regulation) [2019] VCAT 1099 (24 September 2019), at Reasons paras. 4-11.
[7] AHPRA, “Tribunal bans nurse from aged care for five years” (September 29, 2019), accessed online: https://www.ahpra.gov.au/News/2019-09-26-Tribunal.aspx.
[8] Caroline Egan, “Aged care nurse made to return $880,000 inherited from resident she met only weeks before his death,” The Weekly Source, accessed online: https://www.theweeklysource.com.au/legal-issues/aged-care-nurse-forced-to-return-880000-inherited-from-resident-she-met-only-weeks-before-his-death
[9] Ashley Nickel, “Nurse Abha Anuradha Kumar ordered to hand back $880,000 inheritance after huge fortune left to her by patient she had met 24 days earlier” (November 26, 2024), Daily Mail, accessed online: https://www.dailymail.co.uk/news/article-14126451/Melbourne-inheritance-nurse.html.
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Written by: Kimberly A. Whaley
Posted on: June 4, 2025
Categories: Commentary
Grimm Outcome for Dishonest Financial Planner
In DPP v. Grimm,[1] Bradley Grimm, a former financial planner from Melbourne was convicted by the Country Court of Victoria on three counts of engaging in dishonest conduct while running a financial services business. He was sentenced to 18 months in prison.
On five occasions between February 2015 and March 2015, Mr. Grimm transferred funds between two of his client’s self-managed superannuation funds (“SMSF”) to three separate companies of which he was the sole director (Thrive Lending Pty Ltd., Trade BTC Pty Ltd., and Beta Pharmacology Pty Ltd.). Mr. Grimm admitted that each of these companies had very little market value. On another seven occasions between November 5 and 11, 2015, Mr. Grimm transferred shared and convertible notes owned by his clients’ SMSF to Equity Capital Partners Hedge Fund Pty Ltd, without advising his client that it was a company of which he was the sole director and had a personal interest.[2] The clients included a 74-year-old retired hospital cleaner, a 60-year-old office manager, and a 60-year-old switchboard operator.[3]
The Court commented that these offences were underlined by the fact they are punishable by a maximum term of 10 years imprisonment. Further, that Mr. Grimm understood very well the personal circumstances of each of his victims and “must have appreciated that any loss to their limited retirement funds would be felt acutely.”[4] The Court also noted that these offences constituted a culpable breach of trust and professional responsibilities, especially given that the aggravating factor that in the commission of one of the offences, Mr. Grimm was already restrained by court order from providing financial services.[5]
Residential Care Home Manager Ordered to Return Ill-Gotten Gains
In 2015, former nurse Abha Anuradha Kumar met Lionel Cox, a 92-year-old man who became her patient at Cambridge House, a residential aged care facility in Collingwood, in Melbourne’s inner-city. Ms. Kumar, who was a nurse unit manager, quickly learned that Mr. Cox had no immediate family or will but owned a valuable property in nearby Fitzroy. Within three days of his admission, Ms. Kumar bought a will kit and three week later, persuaded two of her staff members to witness his handwritten will. Ms. Kumar, however, failed to tell her employees that she was listed as the executor and sole beneficiary to Mr. Cox’s estate. These employees were also unaware that Mr. Cox’s estate was valued at over $1,000,000.
After a short battle with pneumonia, Mr. Cox passed away on August 9, 2015. Despite not working that day, Ms. Kumar called the Cambridge House and demanded one of her staff members search his belongings for his house key, before his body was moved to a funeral home. Ms. Kumar became the ‘informant’ on Mr. Cox’s death certificate and obtained a grant of probate from the Supreme Court in November 2015. In April of 2016, she obtained a transfer of Mr. Cox’s house and in November, sold it for $1,117,000. She retained the proceeds of the sale along with additional property valued at $39,277.81.[6]
In December 2015, the Australian Health Practitioner Regulation Agency (“AHPRA”) received a complaint about Ms. Kumar and after investigating, referred her to the Victorian Civil and Administrative Tribunal on September 26, 2018. After a hearing the Tribunal disqualified Ms. Kumar from applying for registration for five years and prohibited her from providing any health service in aged or disability care for five years but emphasized that she will not necessarily be re-registered in five years’ time but rather, it will be a decision for the Agency to decide whether she is fit for registration.[7]
In August of 2021, Ms. Kumar was served with a ‘summons for revocation’ in a Supreme Court action launched by State Trustees, owned by the Victorian Government, in August 2021. The Trustee’s lawyers alleged Ms. Kumar did not execute Mr. Cox’s will in compliance with legislation and acted against his wishes.
On November 2024, Justice Melissa Daly of the Supreme Court ordered the grant of probate be revoked and ordered Ms. Kumar to repay the funds into a trust account managed by the court.[8] Although the value of the estate has dropped due to a series of transfers made by Ms. Kumar to cover legal fees, the over $880,000 that remains will be disbursed to Mr. Cox’s cousins. James Dimond, legal counsel for Mr. Cox’s cousin Geoffrey commented that
This is a rare situation involving a medical professional, but elderly and vulnerable people are separated from their assets or pressured to sign dodgy wills and other legal documents all the time … The court system is rife with elder financial abuse cases, usually involving close family members.[9]
—
[1] [2024] VCC 1360 [Grimm]
[2] Australian Securities and Investments Commission, “Former Melbourne financial planner Bradley Grimm sentenced to jail for dishonest conduct” (September 5, 2024), accessed online: https://asic.gov.au/about-asic/news-centre/find-a-media-release/2024-releases/24-196mr-former-melbourne-financial-planner-bradley-grimm-sentenced-to-jail-for-dishonest-conduct.
[3] Grimm, supra, at para. 3.
[4] Ibid., at para. 7.
[5] Ibid., at paras. 6-7.
[6] Nursing and Midwifery Board of Australia v. Kumar (Review and Regulation) [2019] VCAT 1099 (24 September 2019), at Reasons paras. 4-11.
[7] AHPRA, “Tribunal bans nurse from aged care for five years” (September 29, 2019), accessed online: https://www.ahpra.gov.au/News/2019-09-26-Tribunal.aspx.
[8] Caroline Egan, “Aged care nurse made to return $880,000 inherited from resident she met only weeks before his death,” The Weekly Source, accessed online: https://www.theweeklysource.com.au/legal-issues/aged-care-nurse-forced-to-return-880000-inherited-from-resident-she-met-only-weeks-before-his-death
[9] Ashley Nickel, “Nurse Abha Anuradha Kumar ordered to hand back $880,000 inheritance after huge fortune left to her by patient she had met 24 days earlier” (November 26, 2024), Daily Mail, accessed online: https://www.dailymail.co.uk/news/article-14126451/Melbourne-inheritance-nurse.html.
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