The corporate regulator has given the red card to convicted soccer shirt swindler Mark Donnellys Pommy pension investment company amid clams that clients funds were intentionally and systematically misappropriated.
In a successful application to have Mr Donnellys Brite Advisors Pty Ltd put into liquidation, the Australian Securities and Investments Commission claimed this alleged abuse of client funds was the most likely explanation for a potential $100 million-plus shortfall identified by investigators in early November.
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Read the full article at: https://thewest.com.au/business/asic/judge-hands-down-liquidation-ruling-for-uk-pension-investment-company-brite-advisors–c-13489755