ASIC swoops on super scammers
The Australian Securities and Investments Commission (ASIC) has shut down another illegal early super release scheme with the scheme’s operators surrendering their passports pending further directions.
ASIC, which obtained orders by consent in the NSW Supreme Court, alleges Andrzej Janusz Michalik (also known as Andre Tomaszewski and Stanislaw Konstanty Krawczyk), and his son, Martin Michalik were involved in an unlicensed financial services business that offered people early access to their superannuation funds.
ASIC deputy executive director of enforcement Allen Turton says the law clearly states when a person can properly access their superannuation funds.
“Anyone who tries to access their superannuation before this time may face adverse taxation and other financial consequences,” Turton says.
The Supreme Court consent orders restrain the Michaliks and Kilahim, a company controlled by the Michaliks, from carrying on a financial services business, as defined within the meaning of Chapter 7 of the Corporations Act.
The order also restrains them from dealing with or disposing of any money which they may hold on behalf of their clients, and dealing with or disposing of their own assets, except for the payment of ordinary living expenses and legal fees.
The defendants promoted their business by advertising in local newspapers.
The advertisements appeared with the heading: 'Superannuation Cashback', with the sub-headings 'Having financial difficulties? Need money for medical expenses? Rollover to any institution'.
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