Early super release duo arrested at airport

property australian securities and investments commission

30 November 2004
| By Craig Phillips |

A father and son, who are under investigation for alleged involvement in a business that offered consumers illegal early access to their superannuation, were arrested on Saturday at Perth International Airport attempting to leave the country despite having surrendered their passports in August.

Andrzej Janusz Michalik and his son Martin were arrested by Australian Federal Police trying to board a flight bound for Singapore.

In August, the two men were ordered to surrender their passports to the Supreme Court of New South Wales, and were restrained from leaving New South Wales, or Australia, or from coming within 200 metres of a departure point.

The pair appeared before Perth Magistrate's Court yesterday and were remanded in custody to re-appear before the Court tomorrow.

The initial allegations followed an investigation by the Australian Securities and Investments Commission (ASIC) that claimed, Kilahim, an unlicenced company controlled by the Michaliks, had illegally promoted the early release of super.

ASIC yesterday also obtained further orders in the Supreme Court of New South Wales to the appointment of a receiver and manager across all property held by the Michaliks.

This is in addition to an earlier Court appointment, by consent, of a receiver over various bank accounts, vehicles, a boat and property owned by the Michaliks and Kilahim.

The defendants promoted their business by advertising in local newspapers.

These advertisements appeared with the headline, 'Superannuation Cashback - Having financial difficulties? Need money for medical expenses? Rollover to any institution'.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

1 month 4 weeks ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

1 month 4 weeks ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

1 month 4 weeks ago

A Sydney-based financial adviser has been banned from providing financial services in the interest of consumer protection after failing to act on conduct concerns. ...

1 week 5 days ago

The Reserve Bank of Australia has made its latest rate call, with only two more meetings left for 2024....

3 weeks 6 days ago

Financial advisory group AZ NGA has announced a strategic partnership with a $294 billion global investment manager to support its acquisition plans....

2 weeks 6 days ago