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.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 20 Jul 2018CPA shuts financial advice divisionBy Reporter
- 20 Jul 2018Don't neglect AI, advisers warnedBy Tim Stewart
- 19 Jul 2018AMP unveils new in-house training programBy Reporter
- 19 Jul 2018Self-licensed adviser cops 4-year ASIC banBy Reporter
- 19 Jul 2018Hub24 to launch new core offeringBy Reporter
- 19 Jul 2018SMSF sector warns about advice ‘exodus’By Miranda Brownlee
- view all