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Showing 531 - 540 of 794 results for "fraud"

Industry questions RE concept after Trio collapse

MELANIE TIMBRELL  |  WEDNESDAY, 23 MAY 2012
... Responsible Entity (RE)," said Kalman, who argues that an independent Responsible Entity would have been more likely to prevent fraud and loss of funds in addition to increasing the chance for investors to recover funds. "Clearly the bar needs to be ...

SPAA: Last resort compensation scheme needed

LINDA HAUSKEN  |  WEDNESDAY, 23 MAY 2012
... according to Self-Managed Super Fund Professionals' Association of Australia chief executive, Andrea Slattery. "Superannuation fraud affects ordinary Australians saving for their retirement. Any solution must address a problem that impacts the whole ...

FOFA misses the mark on investment fraud

RACHEL DAVIS  |  FRIDAY, 18 MAY 2012
A finance industry lawyer has warned that the FOFA regulations will not prevent Trio, Storm and Westpoint-type disasters from occuring in the future. "There has been no real change to rules making early detection and pre-emptive enforcement easier against ...

PJC blasts Trio follow-up

MELANIE TIMBRELL  |  WEDNESDAY, 16 MAY 2012
... regulators and criminal authorities in the wake of the Trio Capital collapse. In the report on the largest superannuation fraud in Australian history, costing investors $176 million in retirement savings, the PJC highlighted the failure of key checks ...

ASIC bans adviser following fraud conviction

BEN COLLINS  |  TUESDAY, 24 APR 2012
... permanently banned Christos Papaioannou, also known as Chris Pappas, from providing financial services following his conviction on fraud charges in the Magistrates Court of Victoria. On 29 March 2012, Papaioannou was convicted in the Magistrates Court ...

Former Bell Potter adviser charged

MELANIE TIMBRELL  |  WEDNESDAY, 11 APR 2012
A former senior client adviser with Bell Potter Securities Limited has been charged with 15 counts of fraudulent conduct following an ASIC investigation. Glenn Russell Evans, of Leichhardt, NSW is alleged to have used client funds for his own personal ...

Attitude overhaul needed: Perpetual

ELISE BURGESS  |  FRIDAY, 2 MAR 2012
... multi sector, said the wealth management industry has yet to earn the trust of clients, who are instead looking at cases of fraud and gaps in the education of the market. "As an industry we have promised something and we haven't delivered on it. It is ...

Trio super victims receive compensation

CLAIRE MCGREAL  |  WEDNESDAY, 8 FEB 2012
... Financial Services Minister Bill Shorten. The Minister thanked local MPs who made strong representations on behalf of the super fraud victims who he said were "robbed of their savings" by Trio. "The time it has taken to finalise payment to members reflects ...

ASIC charges against new wave of boiler room scams

ELISE BURGESS  |  MONDAY, 6 FEB 2012
ASIC has warned of the rising number of 'boiler room' investment scams after obtaining Supreme Court orders against one financial planning firm accused of defrauding 36 investors in excess of $350,000. Unlicensed financial planning business, Golden ...

ASIC, ACC crack investment scam

ELISE BURGESS  |  WEDNESDAY, 14 DEC 2011
... under suspicion of operating a serious and organised fraudulent investment scam. "Australians are under attack by organised fraud operations, both locally and overseas and it is vital that people exercise extreme caution when dealing with emotional investment ...