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A former director of two marketing companies linked to the failed Shield and First Guardian funds can leave Australia for 12 days, despite ASIC’s concerns he is a flight risk.
ASIC has secured an interim injunction against financial adviser Ferras Merhi, whose network of advisers is accused of leading thousands of clients to invest $526 million into two failed funds.
ASIC has won travel bans against two people who are being investigated over their links to Keystone and Falcon Capital funds, which are suspected of misusing investor money, after the regulator claimed losses could be “catastrophic”.
A court has extended freezing orders over the assets of two men suspected of connections to two Keystone funds, which ASIC has expressed "grave concerns" about.
After losing a travel ban application against a Melbourne businessman as part of a probe into a failed investment fund, ASIC is now seeking freezing orders over his assets.
Rejecting an urgent travel ban bid by the corporate cop, a court has cleared Melbourne businessman Rashid Alshakshir to fly to Indonesia, saying the evidence did not show he was a flight risk.