The corporate watchdog has permanently banned former NSW broker Jason Prasad after he was convicted of fraud.

The conviction relates to fraudulent insurance documents made while Prasad was director of J&P Capital Insurance, a company in external administration.

He was sentenced last November to 16 months in jail, to be served via “intensive correction” in the community, and was ordered to pay $8175 compensation and a $8000 fine.  

J&P Capital Insurance was an authorised representative of PSC Connect between March 2020 and March 2023. Prasad was also an AR of PSC Connect between December 4 2019 and September 21 2023. 

He can appeal against the Australian Securities and Investments Commission ban at the Administrative Review Tribunal.