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
Rising advice fees has prompted Radar Results to increase its price guide to a minimum of $3,000 per client to reflect the changing shape of the adviser landscape.
Investment consultancy Ascalon Capital has appointed a new partner, who joins from 20 years at Zenith Investment Partners, as well as a new chief executive amid a “bold new chapter” for the firm.
Despite the perception that short-term market events shouldn’t affect portfolio decisions, Praemium research finds 60 per cent of advisers have made portfolio changes in response to US President Donald Trump’s decisions.
International advice group Findex has appointed a senior individual to spearhead its M&A and growth operations across Australia and New Zealand, seeking to make the brand a household name.
