Richard M Glover

Member’s name: Mr Richard M Glover
Date of Hearing: 30 April 2013
Division: Queensland
Tribunal: Disciplinary Tribunal

On 30 April 2013 the Disciplinary Tribunal considered complaints brought by two former clients of Mr Richard M Glover.

Mr Glover did not attend the Hearing.

The first complaint arose when Mr Glover acted as co-trustee of a deceased estate. The Disciplinary Tribunal found Mr Glover had:

• used the assets of the estate to secure a loan facility, which monies he on lent to unrelated 3rd party clients to purchase a business
• failed to advise his co-trustee that he had used the estate assets in the above manner for over 3 years until a complaint was made to CPA Australia
• failed to repay the estate the loan monies for 36 months
• derived a personal benefit in that the interest rate he received on the monies loaned to the 3rd party clients exceeded the interest rate in respect of the loan facility over the estate assets
• taken fees from the estate without authority
• failed to lodge the estate income tax returns over 6 financial years
• failed to lodged the deceased’s personal income tax returns for 2003 and 2004 until 2011.

The Disciplinary Tribunal determined that in respect of this matter, the following penalties should be imposed:

• forfeiture of membership in respect of the use of the estate assets and not eligible for readmission until 1 May 2023
• for all other breaches found sustained, a severe reprimand
• costs of $760.

In the second matter the Tribunal found Mr Glover:

• failed to advise his client for approximately 3 years of an excess contribution into his superannuation fund resulting in a tax liability and penalty
• withheld ATO refund cheques from his client
• withheld a cheque from an insurer made payable to the client as compensation for ½ of the excess contribution and deducted his fees from those monies without authority
• inappropriately attended upon his former client at his home at 4.00 a.m. without invitation
• pressured his client into withdrawing his complaint from CPA Australia.

The Disciplinary Tribunal determined that in respect of this matter, the following penalties should be imposed:

• in respect of visiting his client and pressuring him to withdraw his complaint to CPA Australia, forfeiture of membership and not eligible for readmission until 1 May 2017
• in all other matters a severe reprimand
• costs of $813.

In determining the penalty the Disciplinary Tribunal took into account a previous Disciplinary Tribunal finding against Mr Glover in 2010.

The Disciplinary Tribunal also determined that the Tax Practitioners Board and the Institute of Public Accountants be advised of the outcome of this Hearing.