Financial Wisdom

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 bans financial adviser for 4 years

ASIC bans financial adviser for 4 years

ASIC has banned financial adviser Mr Graeme Ashley Cowper, of Oatley, NSW, from providing financial services for 4 years after an investigation found he was not adequately trained or competent to provide financial services.


ASIC permanently bans former authorised representative Michael Taylor from providing financial services

ASIC permanently bans former authorised representative Michael Taylor from providing financial services

ASIC has permanently banned Queensland financial adviser Mr Michael Gordon McIlwraith Taylor from providing financial services. Mr Taylor was an authorised representative of Morgans Financial Limited from 10 March 2004 until 21 September 2015.

ASIC bans Queensland financial adviser from financial services industry for 7 years

ASIC bans Queensland financial adviser from financial services industry for 7 years

ASIC has banned Mr Glenn William Connor from providing any financial services for the next seven years, after it was found that he had not complied with a financial services law.

ASIC bans Victorian financial adviser for three years

ASIC bans Victorian financial adviser for three years

The Australian Securities and Investments Commission (ASIC) has banned financial adviser Julie Hamilton from providing financial services for three years for failing to act in her clients' best interests.