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Showing 451 - 460 of 2455 results for "Court"

BBY chief charged with aiding and abetting fraud

KARREN VERGARA  |  TUESDAY, 10 OCT 2023
... with several offences which include aiding and abetting fraud and could face lengthy jail time. The Downing Centre Local Court charged Arunesh Narain Maharaj after ASIC alleged that he aided, abetted, counselled or procured offences by another former ...

AMP shareholder class action settlement slashed

KARREN VERGARA  |  MONDAY, 9 OCT 2023
... are set to receive $84 million out of the $110 million class action settlement after legal fees are taken out should the court approve the proposed amount. Maurice Blackburn will take a $26 million cut of the settlement because of costs incurred over ...

Adviser cops 10-year sentence

KARREN VERGARA  |  FRIDAY, 6 OCT 2023
... years in jail. Judge Wraight sentenced Terence Rio Nugara to nine years and 11 months imprisonment at the Victoria County Court yesterday. He will be eligible for parole after 6.5 years. Nugara, who was permanently banned by ASIC in April, stole $10,072,061.93 ...

Provide Capital ordered to produce documents

CASSANDRA BALDINI  |  THURSDAY, 5 OCT 2023
The local subsidiary of TPP Global Investments has been ordered by the Federal Court to produce documents it has so far withheld from ASIC. Provide Nominees (Provide), which trades as Provide Capital, came under the watchdog's surveillance in March ...

Skynet adviser stole $10.2m: Court

KARREN VERGARA  |  THURSDAY, 28 SEP 2023
... ASIC in April, stole $10,152,061.93 from 38 clients between 10 October 2014 and 9 January 2019, documents from the Country Court of Victoria show. In most cases, Nugara convinced clients to transfer their savings or rollover monies in their superannuation ...

ASIC fines fintech for misrepresenting crypto product

CASSANDRA BALDINI  |  WEDNESDAY, 27 SEP 2023
... all customers an interest rate of 7.6% per annum from the time they invested. Additionally, the regulator has accepted a court enforceable undertaking from Bobbob and its sole director Byron Goldberg regarding the representations. The undertakings include ...

AMP challenges BOLR court ruling

KARREN VERGARA  |  WEDNESDAY, 27 SEP 2023
... Financial Planning advisers who saw the valuations of businesses slashed by 40%. AMP filed a Notice of Appeal in the Federal Court yesterday, challenging the decision handed down by Justice Mark Moshinsky on July 5. Based on solid evidence, Justice Moshinsky ...

Former adviser lands in jail

KARREN VERGARA  |  TUESDAY, 26 SEP 2023
... than $1 million from clients to feed his online gambling addiction has been sentenced to jail for five years. The District Court of Western Australia found Mark Raymond Sebo guilty of misappropriating $1,056,685.18 by either helping clients set up or ...

ANZ hit with $15m penalty for misleading customers

ANDREW MCKEAN  |  TUESDAY, 26 SEP 2023
ANZ Bank has been ordered to pay $15 million by the Federal Court for misleading customers over the funds available to them in select credit card accounts. The Court found that ANZ breached both the ASIC and the National Consumer Credit Protection Act ...

NextGen Financial Group forced into liquidation

KARREN VERGARA  |  MONDAY, 25 SEP 2023
... After ignoring an Australian Financial Complaints Authority (AFCA) determination, which was then escalated to the Federal Court, NextGen Financial Group is now in the process of winding up. WJ & V Drakoulis Super, the trustees of the SMSF that sued NextGen ...