Hart denies links with Queensland group
Besiegedformer Harts Australasia executive chairman Steve Hart has denied he is now working as an unpaid, non listed director of a Queensland-based consultancy group run by his first and second wives.
Hart, who departed the financial services industry last October after the collapse of his consolidating empire, the Harts Group, adamantly refutes reports that he is now involved in a tax and accounting role with Unlimited Business Consultants (UBC).
“No, I am not working with that group. I’m just floating in and floating out. I don’t do much at present,” he says.
While Hart did not deny that his first and second wives are directors of the UBC Queensland group, he says the group does not undertake tax or accounting related work.
Hart says his time is concentrated on clearing his name of the charges laid against him last year. In October 2001, Hart faced the Brisbane Magistrates Court charged with 11 tax-related fraud offences.
Hart says the Australian Taxation Office (ATO) has blown the charges against him out of proportion.
“I’m really confident. The crown is really playing games — refusing to give us information. I know they are [blowing the charges out of proportion] and that will come out,” he says.
The Harts group collapsed in October 2001 owing about $30 million to creditors. Liquidators are continuing work to establish the financial position of the Harts group, including a detailed investigation of the circumstances leading to the group’s collapse.
On April 26 this year, Hart declared himself bankrupt.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
