Former professional snooker star Quinten Hann has found himself in hot water again after being banned from the Financial Services Industry when his company cheated millions of dollars out of clients
Quinten Hann who now goes under the name ‘James Sonny Quinten Hunter’ had been running a Forex business under the name Monarch FX up until 2014 when the Australian corporate regulator carried out investigations into his company.
Quinten Hann was once a promising snooker player. In 2006 he was caught match-fixing where his career ended disgracefully after he was handed down a 8 year ban from the governing body of snooker. That was to be one of many controversies the snooker star was to face.
As a young boy Hann was also banned by the Australian snooker body after he spat at an opponents mother during a snooker match.
In his professional career, Hann would often throw frames and in one match, smashed the reds from the break-off resulting in the crowd booing him off.
After his scandalous departure from snooker, Hann continued to play pool before retiring and setting up a financial company which dealt with foreign exchange trading for clients.
Hunter’s financial company Monarch FX told it’s clients interested in automated trading to set up self-managed super funds through a business partners company ‘Breakaway finance group.’ Quinten Hunter told clients they would get a 5% a month return on investment if they forked out at least $15,000 to receive automated cutting-edge advice based upon complex computer algorithms.
The clients of Monarch FX typically lost 40-50% of their investments, the Australian courts heard.
Federal Judge Michelle Gordon slammed Quinten Hunter for his actions and banned him from the financial services industry for four years.
Monarch FX rented licences from Audrn who was hit with a $40,000 fine after neglecting to manage the licencees appropriately under the financial services law.
Hunter’s company Monarch FX was liquidated by the federal courts after his ban from the financial sector and the clients awarded 13m in compensation which fell with Audrn who rented the licences to Monrach FX.
To this day, former clients of Monarch FX are still chasing compensation for their heavy losses.
With Hunter’s snooker ban now over, will the Australian snooker star return to the baize to try pay back some of his debts?
