Trusted adviser commits fraud
Former Perth financial adviser Antonio Pisano has been sentenced to four years, eight months jail after pleading guilty to eight counts of fraud amounting to $1,537,735.00.
An Australian Securities and Investments Commission investigation found that Pisano defrauded investors between June 1996 and July 2001 while he was a director and shareholder of Pisano Financial Services, which subsequently entered external administration at the beginning of 2004.
At the time, he was also Deputy Mayor of Gosnells City Council.
Recommended for you
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
