ASIC prosecutes Melbourne man
A Melbourne man has been committed to stand trial in the Melbourne Magistrates Court on 15 counts of seeking to obtain a financial advantage by deception and 108 counts of breaching directors’ duties.
The man, Spartaco Fasciale of Moonee Ponds, faced charges brought by the Australian Securities and Investments Commission relating to the operations of Fasciale Futures Trading Pty Ltd.
ASIC has alleged that between March 2004 and May, last year, nine individuals collectively invested over $1.4 million with Fasciale Futures to be used to trade on the Australian Stock Exchange and prove a monthly return on the capital invested.
Fasciale is scheduled to return to court on October 26.
AUTHOR
Mike Taylor
Recommended for you
The month of April enjoyed four back-to-back weeks of growth in financial adviser numbers, with this past week seeing a net rise of five.
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With the election taking place on Saturday (3 May), Adviser Ratings examines how the two major parties could shape the advice industry in the future.
