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ASIC bans Aussie Rob from financial services

ASIC has banned the high profile former director of a number of Gold Coast-based financial services companies from the industry and warned the public against doing business with the individual.

In a statement put out today, the corporate regulator announced it is permanently banning Robert Lloyd Wilson – better known as ‘Aussie Rob – from financial services and “warning the public not to deal with the failed businessman”.

Mr Wilson is a prominent business figure in the Gold Coast, having received local media attention for his involvement in “get rich quick” computer trading systems.

He was the director of a number of companies in the financial service space including Aussie Rob Financial Services Pty Ltd, Lifestyle Trader Pty Ltd and Lifestyle Investor Services – of which the advice-focused Lifestyle Group was a related entity.

Mr Wilson was found to have made misleading statements to the corporate regulator during investigations into his business activities.

ASIC previously banned former Lifestyle Group chief executive Murray John Priestley after he had provided misleading product information to clients regarding the ‘Aussie Rob Lifestyle Trader’ investment product.