According to a statement issued by the corporate regulator, Ostrava Equities directors Vanessa Ash and Bradley Grimm have been ordered to surrender their passports following an application from ASIC.
The married couple and business partners are alleged to have been responsible for “unauthorised withdrawals of client funds and charging of fees” at Ostrava, which ASIC describes as a “company which provides financial services including establishment of [SMSFs]”.
Ms Ash is a lawyer and former ASIC employee while Mr Grimm is a “financial planner”, the ASIC statement explains.
Ostrava is an authorised representative of Marigold Falconer International Limited and has related entities including Ostrava Asset Management and Ostrava Securities.
“Ostrava Equities has offices in Melbourne and Sydney, and approximately 100 clients. Advertised services include SMSF establishment and management, financial advice, insurance and legal services,” the statement said.
ASIC’s investigation into the couple’s affairs is ongoing.
ASIC have a long experience of corruption and poor ethics. I wait for them to knock on my door. Then I may get the chance to show them some property a client purchased at auction of asic furniture. They forget to clean out the credenza full with folders, dinners, meetings and lots of items they have a responsibility to protect.
OMG….an ASIC employee that’s not asleep!
If they were to look closer into the crime that has been orchestrated by the hole of the ASIC they would need to close the hole place down, look closer at the LM saga that you allowed to continue after having the information to LM was in trouble back 2010, what did you do nothing, leaving 12,000 investors world wide 750 Million $ lost, good advert for investing into Australia.
So a government body has corrupt employees and we are governed by this body of corrupt people and we; as financial planners are made to ensure we consider 7 steps of advice with the BID. When we get it wrong the media goes into overdrive and most times televised yet I bet we will never see this so the public know nothing of what they are supposed to represent.
Former Asic employee…..hmmmmm?