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The SR Group represents a group of 116 individuals and entities, each of whom was a client of disgraced Sydney based financial adviser. The financial adviser advised each of their clients to invest in the a managed investment scheme, without regard to each individual’s needs, wants or desired investment outcomes. The financial adviser did so without disclosing their close relationship with the managed investment scheme or the exorbitant commissions they received for promoting the scheme.
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Next step: award compensation to the investors she defrauded!A WA businesswoman under investigation for masterminding a suspected $180 million “Ponzi” scheme, in which Malaysian and Singaporean investors were courted to invest in Pilbara property, has been permanently banned from providing financial services.
Australia’s corporate watchdog, the Australian Securities and Investments Commission (ASIC), has found Veronica Macpherson engaged in “misleading” and “deceptive” conduct while promoting the Newman Estate Project in Western Australia’s Pilbara to overseas investors. |
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