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ASIC seeks Deloitte as liquidator to SMSF spruiking firm

ASIC seeks Deloitte as liquidator to SMSF spruiking firm

ASIC seeks Deloitte as liquidator to SMSF spruiking firm
Katarina Taurian
26 February 2018

The corporate regulator has applied to the Federal Court of Australia for the appointment of Deloitte as liquidator to a firm which questionably encouraged customers to set up SMSFs.

ASIC announced this afternoon it seeks from the court the appointment of Jason Tracy of Deloitte as liquidator of Superfunded.

In November last year, ASIC obtained a range of interim injunctions in the Perth Federal Court against WA-based firm Superfunded and its sole director, Max David Goldenberg and its sole shareholder Mark Travis Goldenberg.

ASIC is alleging that Superfunded, in encouraging customers to set up SMSFs, may have breached the Corporations Act and the SIS Act in relation to promoters of schemes that encourage illegal early release of super.

Further, ASIC alleges that in encouraging SMSF setups to its customers, Superfunded is not ensuring that the investment loans are being serviced and has what appears to be inadequate books, records and financial accounts.

ASIC’s application has been listed for hearing in the Federal Court of Australia at Perth in early April.

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ASIC seeks Deloitte as liquidator to SMSF spruiking firm
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