ASIC executes search warrants following liquidator concerns
The Australian Securities and Investments Commission (ASIC) has executed warrants to seize the property, books and records of RG Munro Futures Pty Ltd (RG Munro in liquidation) and Starport Futures Trading Corporation (Starport in liquidation) following a lack of cooperation by the operator of both companies during the liquidation process.
ASIC alleged Roger Gareth Munro of Kingscliff, NSW, failed to deliver the books and records of the two companies to the liquidators as required by law.
The warrants follow an ASIC investigation into RG Munro and Starport as to the whereabouts of funds lent to both companies for the purpose of futures investments.
An ASIC statement said the liquidator and investors were concerned about the location of around $88 million in investor funds.
AUTHOR
Corrina Jack
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