Advice 4 Wealth

Gold Coast director and property developer sentenced to eight years’ imprisonment

Gold Coast director and property developer sentenced to eight years’ imprisonment

“Owing investors approximately $9 million (17-246MR). Many of the investors were pensioners and were approached by telemarketing or word of mouth. Investors were convinced to borrow against their homes and were told that their money would be used to develop property in Tasmania. Instead, the money paid by investors was used to pay back interest owed to other investors, payments to employees, cash withdrawals and transfers to personal bank accounts.”

ASIC Permanently Bans South Australian Financial Adviser

ASIC Permanently Bans South Australian Financial Adviser

ASIC has permanently banned Mr Robert Pryor Smith, of West Lakes, South Australia from providing financial services on the basis that he is not of good fame or character.