Victoria Police have sought the arrest of a husband and wife financial team previously banned by the Supreme Court of Victoria for stealing more than $930,000 from clients.
ASIC obtained warrants for Shaun and Nicole White of Eltham, Victoria, who are former directors of the Personalised Finance Solutions group (PFS), which specialises in self-managed superannuation funds.
The group was wound up a year ago after the regulator alleged the pair misled investors and led investors to roll over their superannuation savings into self-managed funds that the PFS group established, while persuading them to contribute money into other investments with the group.
The total value of the money alleged to have been stolen exceeds $930,000, ASIC said.
Mr White faces 48 charges including 40 charges of theft, two charges of obtaining property by deception, two charges of dishonest conduct in relation to financial products, the unlicensed carrying on of a financial services business, and managing a company while disqualified.
His wife was charged with the unlicensed carrying on of a financial services business and two charges of dishonest conduct in relation to financial products.
The couple will appear in court on 19 December 2006.
