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Banned adviser spent client savings on sports car business

The Australian Securities and Investment Commission (ASIC) has accepted an enforceable undertaking (EU) from Sydney financial adviser Gabriel Nakhl which permanently prevents him from providing financial services after he used clients' cash on his sports car and motorbike business.

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Read more: Gabriel NakhlASICEUAustralian SecuritiesSydneyFinancial PlanningASIC Deputy Chairman Peter KellMr Nakhl