Kenneth Charles Grace, Managing Director of Goldsky Asset Management is facing a number of serious charges. Photo: Supplied
Kenneth Charles Grace, Managing Director of Goldsky Asset Management is facing a number of serious charges. Photo: Supplied

Hedge fund manager accused of defrauding millions

A Tweed Heads hedge fund manager accused of defrauding millions has been banned from leaving Australia.

Kenneth Charles Grace, the owner of Goldsky Asset Management LCC, appeared in Tweed Heads Local Court on Monday.

Mr Grace is charged with eight counts of engaging in dishonest conduct in relation to a financial service or product between November 25, 2014 and October 29, 2018 within this jurisdiction.

Mr Grace is further charged that he aided and abetted, counselled, or procured Goldsky Asset Management Australia Pty Ltd as agent for Goldsky Assessment Management LCC to carry on a financial services business without holding an Australian financial services licence.

Kenneth Charles Grace.
Kenneth Charles Grace.

The allegations came to light following an Australian Securities and Investments Commission investigation into Goldsky and Mr Grace.

In court on Monday Mr Grace was ordered to surrender his passport.

He remains on bail with conditions not to enter any international airports or leave the country and is to be of good behaviour.

Mr Grace's matter will be back before Tweed Heads court on June 7 for a brief status mention.



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