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Blue Sky Alternative Investments enters receivership amid debts and class actions – 22 May 2019
ASIC is investigating Blue Sky Alternative Investments for potential breaches of continuous disclosure obligations. Its market value has plummeted from $1.2b to $14m
Three major law firms are trying to launch class actions against Blue Sky for grossly exaggerating its assets under management, misrepresenting the performance of its investments and collecting management fees far in excess of its entitlements.
Australia’s landmark banking inquiry: Tighter regulations, crackdown on ‘overinflated’ bankers’ salaries to come – 21 May 2019
On the 27th May, a final report from the landmark Royal Commission inquiry into abuse in the financial services industry will be released. It is expected to crackdown on massive pay packets of bankers, and even lay criminal charges against senior executives.
Electronic fund transfer fraud costs Brisbane couple $1 million – 21 May 2019
A bookkeeper allegedly took $1 million over a six-year period from the company she worked for, using EFT fraud.
ASIC Warns Public Against New Crypto Scam – 21 May 2019
The Australian Securities and Investments Commission (ASIC) has red flagged alleged scam entities (Dartalon Ltd and GFC Investments). ASIC claim that the business has made unsolicited calls or sent emails about investing, financial advice, credit or loans while not having a licence.
