A former authorised representative of the now-defunct Kedesco Pty Ltd has appeared before the Dromana Magistrates Court in Victoria and charged with 10 offences, following an ASIC investigation.
According to a statement from the Australian Securities and Investments Commission, Kevin Maxwell George Whitting provided “inappropriate advice to five investors” when he was employed by Shelbourne Financial Services on the Mornington Peninsula.
The advice was given to five investors who collectively invested $684,000 in the Blue Diamond Deposits Trust No. 1 (BDT) between September 2008 and January 2009, a managed investment scheme which collapsed in 2010.
Whitting is to appear again in the Dromana Magistrates Court on 13 June 2013.
When financial failures occur and accountability can’t be pinpointed clearly, often it is the adviser that gets ...
When dealing with high-risk investment portfolios and platforms, it is important advisers manage expectations even when ...
Orbis Investments has added a new marketing head to extend its reach to advised retail investors as part of its “next ...
Never miss the stories that impact the industry.
Get the latest news! Subscribe to the ifa bulletin