Corporate regulators have filed a proceeding in federal court in Brisbane against PE Capital Fund Management alleging fraud in the operation of managed investment schemes.
The Australian Securities and Investment Commission (ASIC) argued that the company:
- The following unregistered managed investment schemes (unregistered schemes) were operated in the situation where it is necessary to register these unregistered schemes.
- PE Capital Property Development Opportunity Fund (P1 Fund);
- PE Capital Property Development Opportunity Fund (P3 Fund);
- PE Capital Asia Wholesale Diversified Investment Fund;
- PE Capital Asia Wholesale Opportunity Fund.
- Issued interests in unregistered schemes without an Australian Financial Services License (AFSL) or with valid permission from AFSL holders.
- It has established itself as a formal representative of two unregistered schemes and, in the absence of such authority, the authority to issue information memos of various PE Capital Special Purpose Entities Trusts.And
- Engaged in misleading fraud by making statements in the Product Disclosure Statement (PDS) of investment strategies and asset security registration schemes.
ASIC liquidates PE Capital Management and its registered and unregistered schemes by the company Companies Act And / or ASIC method.
ASIC begins proceedings against PE Capital FM
Source link ASIC begins proceedings against PE Capital FM