Husband and wife committed to trial
Two directors of a self-managed super company, Personalised Finance Solutions Group (PFS), were committed to stand trial in the Melbourne County Court on charges brought by the Australian Securities and Investments Commission (ASIC).
ASIC alleges that Shaun White and Nicole White of Eltham Victoria acted unconscionably by leading investors to roll over their superannuation savings into self-managed funds within the PFS Group, to which Mr White had access.
Investors were also persuaded to invest in property developments that would eventually fail.
Mr White is believed to have stolen over $930,000 and faces 40 charges of theft, two charges of obtaining property by deception, two charges of dishonest conduct in relation to financial products, the unlicensed carrying on of a financial services business and managing a company while disqualified.
Mrs White is also charged with the unlicensed carrying on of a financial services business and two charges of dishonest conduct in relation to financial products.
The couple have reserved their pleas, and the matter is due to return to court on November 13, 2007.
The White’s were previously disqualified from managing corporations for life on July 6, 2006, after an ASIC investigation.
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