简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:ASIC has initiated urgent legal proceedings in the Federal Court against Sunny Mahendra Prakash and his associated entities, which include Principal Financial Services Pty Ltd, Self-Managed Super Pty Ltd, Provest Enterprises Pty Ltd, and Super Funds Australia Pty Ltd ITF Principal Superannuation Fund.
ASIC has initiated urgent legal proceedings in the Federal Court against Sunny Mahendra Prakash and his associated entities, which include Principal Financial Services Pty Ltd, Self-Managed Super Pty Ltd, Provest Enterprises Pty Ltd, and Super Funds Australia Pty Ltd ITF Principal Superannuation Fund.
Mr. Prakash boasts qualifications as a certified practicing accountant, registered tax practitioner, self-managed superannuation fund auditor, and financial advisor. He operates under the authorization of Principal Financial Services Pty Ltd to offer financial product advice, particularly concerning retirement savings account products and superannuation.
ASIC's current focus lies in investigating the operations of Mr. Prakash and his associated entities, particularly regarding financial advice and activities related to client trading accounts dating back to January 28, 2016.
On March 28, 2023, the Court issued orders to freeze the assets of Mr. Prakash and his associated companies, further restraining Mr. Prakash from departing Australia.
Subsequently, on April 19, 2024, the involved parties reached a consensus to modify certain aspects of the asset preservation orders.
The case is scheduled for a case management hearing on May 16, 2024.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
When entering the world of online trading, finding a legitimate broker is essential. However, fraudulent entities like Top First Group often target unsuspecting investors. It is suspected that this company operates under false pretences, drawing in traders with attractive promises but raising significant concerns.
The Securities Commission Malaysia (SC) has issued an updated Investor Alert List for September, highlighting unauthorized websites, investment products, companies, and individuals involved in unregulated financial activities.
Saxo Bank closes its Hong Kong and Shanghai offices, shifting focus to Singapore as geopolitical and business changes impact its strategy in the Asia-Pacific.
This article outlines he most recent list of unlicensed brokers flagged by the FCA from September 23 to 27.