dodgy financial planner

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 has banned financial adviser Lawrence Toledo from providing financial services for seven years.

ASIC has banned financial adviser Lawrence Toledo from providing financial services for seven years.

ASIC has banned financial adviser Lawrence Toledo from providing financial services for seven years.

Call to remove 'bad apples' from the financial planning industry

Ten years on from when the regulator first called for the removal of bad apples from the financial planning industry, there's been not enough progress. 

Read more from the Sydney Mornigng Herald here.