Ex-Queensland adviser convicted for breaching ASIC banning order


A former Queensland monetary adviser has been convicted and fined $1,500 after pleading responsible to 3 prices of breaching an ASIC banning order.

Lawrence Toledo, who was banned in 2017 from offering monetary providers for seven years after ASIC discovered he had didn't act in the perfect pursuits of his shoppers when advising them to determine a self-managed superannuation fund to buy properties, continued to offer monetary product recommendation and deal in monetary merchandise regardless of his ban remaining in pressure till Sept. 5, 2024.

Toledo breached his banning order by offering monetary recommendation to a self-managed tremendous fund (SMSF) to spend money on Premier Realty Group, arranging the sale of 70,000 shares in Premier Realty Group for $70,000 to the SMSF, and arranging a second sale of 14,000 extra shares in Premier Realty Group, costing $14,000, to the identical SMSF.

Toledo entered his plea and was sentenced within the Brisbane Justice of the Peace’s Courtroom.

The matter was prosecuted by the Commonwealth Director of Public Prosecutions after a referral of a short of proof from ASIC.  

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