Gold Coast man to stand trial on fraud charges
A Gold Coast man has been committed to stand trial in relation to 12 charges of fraud laid by the Australian Securities and Investments Commission (ASIC).
Nebojsa Jovicic of Robina, Gold Coast, appeared in court on August 27 following an ASIC investigation into the affairs of Perpetual Acquisitions Pty Ltd (in liquidation) and Robina Properties (Qld) Pty Ltd (in liquidation).
ASIC alleged that Jovicic raised almost $1 million from 12 investors in Brisbane and the Gold Coast between December 2005 and May 2006, and investors were sometimes offered returns at 50 per cent per annum.
It is alleged that some of the investors' funds were not used in a lawful manner and they subsequently suffered substantial losses from alleged investments made by Jovicic and the companies on the investors’ behalf in units at Mount Panorama Resort, New South Wales, and other property related developments.
Jovicic was granted bail of his own undertaking with conditions.
He will stand trial on a date to be announced.
Recommended for you
A quarter of advisers who commenced on the FAR within the last two years have already switched licensees or practices, adding validity to practice owners’ professional year (PY) concerns.
Integrated wealth and financial services group Rethink has launched a financial planning arm called Rethink Wealth to expand beyond property investing and into holistic wealth management.
While adviser numbers continue to slowly creep back up, the latest Wealth Data analysis reveals they would actually be in the green for the calendar year if it weren’t for so many losses in the limited advice space.
Iress has appointed a chief AI officer to spearhead the fintech’s strategic focus on AI, with chief executive Marcus Price describing how the technology opens the doors to a “new frontier for wealth advice”.
