BBY former Exec Chairman Glenn Rosewall charged over dishonest use of $1.95M of client money
The former Executive Chairman of BBY Limited, Glenn Alexander Rosewall, has been charged with aiding, abetting, counselling or procuring BBY’s dishonest conduct in relation to a financial service.
Mr Rosewall appeared today in the Downing Centre Local Court charged with two offences contrary to sections 1041G and 1311 of the Corporations Act 2001 (Cth) and section 11.2(1) of the Criminal Code (Cth), following an ASIC investigation.
The regulator alleges that between about 1 March 2015 and about 17 May 2015, Mr Rosewall aided, abetted, counselled or procured BBY’s use of $1.95 million of client money to facilitate payment of an unrelated corporate invoice.
The matter was adjourned for further mention on 9 September 2025.
Each offence carries a maximum penalty of 10 years’ imprisonment, or a fine of 4,500 penalty units ($765,000) or three times the total value of benefits obtained (or both). The maximum period of imprisonment has subsequently been increased.
BBY was a former stockbroking and financial services business. It was placed into voluntary administration on 17 May 2015 and liquidation on 22 June 2015.
ASIC suspended BBY’s AFS licence in May 2015. That suspension remained in place until its licence was cancelled in June 2021.
July 15, 2025 @ 9:31 am
I worked at BBY for 6 months in the early 00s. This man was so egotistical and arrogant, there was no helping him.
He often used the name of his famous Father to intimidate others. His Father was often in the office and was a gentleman, unlike his son.
I hope justice is served for his criminal behaviour.