The Federal Court has frozen the assets of a former ASIC lawyer and her 'financial planner' husband and ordered the surrender of their passports.
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.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 19 Dec 2018Advice bodies reach code monitoring agreementBy Adrian Flores
- 18 Dec 2018Court lays charges against former Sydney adviserBy Adrian Flores
- 19 Dec 2018Fiducian buys Vic financial planning businessBy Sarah Simpkins
- 18 Dec 2018ASIC permanently bans Victorian adviserBy Adrian Flores
- 18 Dec 2018Melbourne-based dealer group loses AFSLBy James Mitchell
- 18 Dec 2018AFA appoints new chair of women advocacy bodyBy Sarah Simpkins
- view all