Perth businessman Chris Marco has been found guilty of defrauding investors of more than $34 million following a five-week trial in the Supreme Court of Western Australia, while his former executive assistant, Linda Marissen, was acquitted of all charges.
A unanimous jury on 4 September 2025 convicted Mr Marco, of Applecross, on 43 counts of fraud relating to six investors and a total of $34,332,453. He was remanded in custody and is due to be sentenced on 30 October 2025.
ASIC Deputy Chair Sarah Court said: ‘Today’s guilty verdicts mark the end of a sorry chapter that many of Mr Marco’s investors would rather forget.
This result delivers justice to investors who Mr Marco defrauded and speaks to ASIC’s painstaking investigation into this complex matter.’
Ms Marissen was found not guilty on all counts that related to her. During the trial, the court entered verdicts of not guilty on 13 of the 30 charges she faced at that stage, ruling there was insufficient evidence for the jury to be satisfied beyond reasonable doubt that she had aided Mr Marco in the commission of those offences. The jury then returned not guilty verdicts on the remaining 17 charges.
The prosecution followed a four-year ASIC investigation. Regulators had alleged that between July 2013 and October 2018 Mr Marco obtained more than $36.5 million from nine investors with intent to defraud, by deceit or fraudulent means. He was initially charged in July 2022 with 50 counts of fraud under section 409(1)(a) of the Criminal Code (WA), with 43 counts ultimately proceeding to trial.
ASIC later alleged that between February 2014 and October 2018 Ms Marissen enabled or aided Mr Marco to defraud more than $29.5 million from six investors. In May 2023 she was initially charged with 34 counts of enabling or aiding alleged fraud offences under sections 7(b) and 409 of the Criminal Code (WA).
Under the Criminal Code (WA), the maximum penalty for each fraud offence is seven years’ imprisonment, or 10 years where the person deceived is aged 60 or over.
The criminal case followed earlier civil action by ASIC. On 7 December 2020, the Federal Court ordered the winding up of an unregistered managed investment scheme operated by Mr Marco and AMS Holdings (WA) Pty Ltd, and permanently restrained Mr Marco from carrying on a financial services business without an Australian Financial Services licence or operating an unregistered managed investment scheme.
The matter was investigated by ASIC and prosecuted by the Commonwealth Director of Public Prosecutions.
