While the Federal Court found there was “no clear evidence” that either the Venture Egg boss or an associated marketing firm head are flight risks, it opted to extend their travel bans until December. The seriousness of their alleged offences and the...
for compensation that could potentially land with the CSLR is InterPrac – as it authorised Ferras Merhi and advice firm Venture Egg – but the licensee is still operating. As of right now, the Australian Financial Services licensee is still liable for...
ring gets even smaller when you consider the vast majority of the advice involved can be traced back to Ferras Merhi and Venture Egg. Both Merhi and Venture Egg were authorised representatives of InterPrac Financial Planning, though the licensee has...
2024, sourced from the fund itself. Cornerstone Strategic Management, which is related to Ferras Merhi’s advice firm Venture Egg, Osama Saad’s Atlas Marketing, and Rashid Alshakshir’s Indigo Group were all beneficiaries of these payments. All three are...
is in our ‘massive’ watch list, the impact of Shield Master Fund and First Guardian are also in that watch list. With Venture Egg now coming along with all other firms on our potential watch list, we’ll just continue to watch how many complaints AFCA...
of the attention has, for good reason, been focused on the involvement of Ferras Merhi and the advice firm he controls – Venture Egg Financial Services – which were both authorised representatives of InterPrac Financial Planning. While Merhi has had his...
of advice client exposure to both Shield and First Guardian have come to light, that now looks like it could happen. The Venture Egg problem Just last week, ASIC cancelled Financial Services Group Australia’s (FSGA) AFSL and permanently banned...
the regulator noting the investigations are ongoing. Despite being the sole director of FSGA, Merhi and his advice firm Venture Egg Financial Services were both authorised representatives of InterPrac Financial Planning until the end of last month....
The founder of the embattled firm Venture Egg is no longer an authorised representative of InterPrac, while transactions related to another licensee are further intertwining the world of small-cap financial services. Since the Australian Securities and...
certain managed investment schemes, including Shield Master Trust and First Guardian Master Fund. Merhi controls Venture Egg, and both he and Venture Egg are authorised representatives of Interprac Financial Planning. He also controls Financial Services...
subsidiary, Interprac Financial Planning, is working with ASIC as it investigates financial adviser Ferras Merhi and Venture Egg Financial Services. In February, the Federal Court made interim orders freezing certain assets of Merhi in connection with...
that the fallout from either of these will make it to the CSLR, but there is also no guarantee they won’t. Advice firm Venture Egg – whose director Ferras Merhi is back in Federal Court today – had as much as $440 million in client money invested across...
investigations are ongoing,” ASIC said, adding in a separate announcement that the same is true of Saad. Merhi controls Venture Egg Financial Services and United Financial Advice, trading as Venture Egg and Financial Services Group Australia Pty (FSGA)....
with its investigations concerning certain managed investment schemes, including First Guardian. Merhi controls Venture Egg Financial Services, and both he and Venture Egg are authorised representatives of Interprac Financial Planning. He also controls...
with its investigations concerning certain managed investment schemes, including First Guardian. Merhi controls Venture Egg Financial Services, and both he and Venture Egg are authorised representatives of Interprac Financial Planning. He also controls...
investigations are ongoing,” ASIC said, adding in a separate announcement that the same is true of Saad. Merhi controls Venture Egg Financial Services Pty Ltd and United Financial Advice Pty Ltd, trading as Venture Egg and Financial Services Group...
with a final hearing to decide whether the orders should continue has been scheduled for 4 April 2025. Merhi controls Venture Egg Financial Services Pty Ltd and United Financial Advice Pty Ltd, trading as Venture Egg and Financial Services Group...
who recommended investors invest in Shield, the lead generators, and others. “It has come to ASIC’s attention that Venture Egg (a financial adviser who has advised clients to invest in Shield) has issued letters to investors dated 29 November 2024 and 2...
A number of sources involved in the collapse of licensee Protect Ensure have come forward to accuse ASIC of unfairly banning financial advisers to hit targets. ifa reported last month that a former client of Protect Ensure reached out to the Financial...
The former client of a collapsed licensee has reached out to the Financial Ombudsman Service in an effort to recover the $70,000 he says was stolen from him under ASIC’s watch. According to his submission to FOS, Greg Wenmoth and his wife lost a large...
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