ASIC moves on alleged Ponzi scheme
The Australian Securities and Investments Commission (ASIC) has moved against what it believes is a possible Ponzi operation, which has affected more than 100 investors who have contributed more than $16 million.
The regulator announced on Friday that it obtained orders appointing a liquidator to companies associated with Peter van de Steeg, Jonathan Ezzy and Peter Berlowtiz of Victoria and Scott Walker of Western Australia.
ASIC said in an announcement that it was concerned that the defendants had been providing or involved in conducting a financial services business without the necessary Australian Financial Services Licence and without providing the required adequate disclosure to investors.
It said it was also concerned that investors might have been misled about the nature of the arrangements they were entering into and that the defendants might have breached various provisions of the Corporations Act.
ASIC said it commenced the winding up proceeding on 29 June in the Federal Court and that the liquidator would be required to identify, collect and secure the assets of the companies for the benefit of investors and creditors.
ASIC is alleging that between 2006 and 2009 the defendants raised more than $16 million from more than 100 investors purportedly for the purposes of investing in property and/or foreign exchange trading.
It named the companies associated with the defendants and that had been placed in liquidation as Meloka Pty Ltd, Contango Investments Pty Ltd, DIX-Walker Pty Ltd, Teronte Pty Ltd, Namrepus Pty Ltd, Arnah Pty Ltd, Soteria Holdings Pty, Korlea Pty Ltd, Solanah Pty Ltd, Tiamah Pty Ltd, Jameter Pty Ltd, Proteus Distribution Pty Ltd, and Proteus Trading Pty Ltd.
ASIC said it had applied to extend freezing orders against the defendants and the passport orders against Van de Steeg.
AUTHOR
Mike Taylor
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