Former BW Equities employee charged for misappropriating funds

A former employee of the Victorian boutique advice business has been arrested and charged for allegedly trading client's shares without consent that generated close to $500,000 for himself.

Emre Tahsin Basar of Victoria, a former employee of BW Equities, has been charged with eight counts of dishonestly using his position as an employee to gain a financial advantage.

Basar was a desk assistant at BW Equities, who allegedly traded shares held in a client's account without authorisation between 11 and 17 February 2026. ASIC alleges the unauthorised share sales generated approximately $498,500.

The funds were then shifted to an account held in the name of Zorlu Capital, with Basar listed as the sole director, secretary and shareholder of that company, ASIC said.

Basar has since left BW Equities.

Financial Standard has reached out to BW Equities for comment.

Following his arrest, Basar was granted conditional bail, including a requirement he surrender passports and remain in Australia.

Basar appeared before the Melbourne Magistrates' Court for a filing hearing yesterday, where his bail was extended and the matter was listed for committal mention on 17 December 2026.

It is being prosecuted by the Commonwealth Director of Public Prosecutions.

The maximum penalty for each offence of dishonest use of position as a director, officer or employee (s184 of the Corporations Act 2001) is up to 15 years imprisonment and/or a fine of up to $765,000.