The corporate regulator has made submissions to the Federal Court to seek an order permanently banning former Wright Patton Shakespeare boss Craig Gore.
In a statement issued today, ASIC revealed it has made a formal submission requesting a permanent banning order against Mr Gore and his wife Marina Gore after an investigation found “misleading and deceptive” conduct relating to SMSF investors.
ASIC alleges that the Gores, through their companies Royale Capital and ActiveSuper, provided unlicensed financial services, failed to provide disclosure documents to investors, engaged in cold calling practices and distributed investor funds to third parties without disclosure.
On 14 April 2015, the Federal Court ruled that Mr Gore and several other parties had “contravened sections of the Corporations Act or were knowingly concerned in those contraventions”.
Mr Gore sold WPS to British politician Michael Ashcroft in 2009.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 20 Sep 2018Independent advice will prosper but must be paid for: LovedayBy James Mitchell
- 21 Sep 2018Former ASFA policy advisor to boost FPA ranksBy Reporter
- 21 Sep 2018Aligned advisers in search of freedomBy Adrian Flores
- 20 Sep 2018Banned Perth adviser did not engage in dishonest conductBy James Mitchell
- 20 Sep 2018‘No advisers have been mistreated’: DalyBy James Mitchell
- 20 Sep 2018Beacon advisers held ‘ransom’ while IIOF money remains missingBy James Mitchell
- view all