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Unlicensed advice provider faces court

A business found to have provided unlicensed investment advice has appeared in court following an ASIC investigation.

Byron Bay-based Senen Pousa has appeared in the Brisbane Magistrates Court charged with aiding and abetting his company, Investment Intelligence Corporation (IIC), to provide financial services without an AFSL.

If convicted, Mr Pousa will face a two-year jail sentence, a fine of $22,000 or both.

A previous ASIC investigation resulted in the freeze of $3 million in funds held by IIC.