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ASIC bans bogus broker

The Australian Securities and Investments Commission has permanently banned Samuel Tessa from providing financial services and engaging in credit activities.

The regulator says he purported to be an insurance broker and misled customers into paying what they thought were insurance premiums between May 2013 and December 2016.

The Melbourne man contravened financial services law, conducted himself dishonestly and is not of good fame or character, the commission says.

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