Second man prosecuted on early release super
Both the Australian Securities and Investments Commission (ASIC) and the Australian Taxation Office (ATO) are continuing investigations into alleged early release superannuation arrangements involving two Sydney men said to be operating an unlicensed financial services business.
ASIC announced this week that it had obtained consent orders in the NSW Supreme Court against Sonatane Haiton Hafoka, also known as Tane Hafoka or Jonathan Hafoka.
It said it would allege that Hafoka was involved in the operation of an unlicensed financial services business in Sydney that offered people early access to their superannuation funds via Kassongo Superannuation.
The court ordered Hafoka be restrained from leaving Australia or coming within 100 metres of a point of departure. The orders also prevent Hafoka from providing financial services, dealing or disposing of any assets held on behalf of Kassongo Superannuation Fund and dealing with or disposing of any money he may hold, except for the payment of ordinary living expenses and legal fees.
Hafoka has been joined to ASIC’s proceedings against Atan Ona Kassongo. The regulator obtained consent orders against Kassongo in early January alleging he was involved in the operation of an unlicensed financial services business in Sydney offering people early access to their superannuation funds.
AUTHOR
Mike Taylor
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