… as more advisers face court
Five former directors have appeared before Australian courts accused with dealing in financial products, including Westpoint promissory notes, without a licence.
Four of the five – Barry Silver, Robert Button, Mark Shepherd and Stephen Sneddon – faced the Southport Magistrates Court in Queensland.
ASIC says between October 2003 and November 2005 the Lancer Group, of which Mr Silver was the sole director, carried on a business without holding the required licence.
The charges also relate to the distribution of Westpoint promissory notes.
Mr Button, who was a director of Button Building Consultants, Mr Shepherd, the sole director of Pinnacle Enterprises International, and Mr Sneddon, the sole director of World Investment National, are also charged with aiding, abetting, counselling and procuring their respective companies to provide a financial service on behalf of the Lancer Group.
The charges relate to $816,000 of investments made by nine investors in promissory notes issued by various Westpoint mezzanine companies.
Mr Silver will return to court on May 5 while the other three men will appear tomorrow.
Another man, Russell Collins-McBride, has appeared before court in Adelaide, facing charges relating to financial products including Westpoint promissory notes worth more than $8 million without a licence.
He will next appear in court again on June 12.
Four of the five – Barry Silver, Robert Button, Mark Shepherd and Stephen Sneddon – faced the Southport Magistrates Court in Queensland.
ASIC says between October 2003 and November 2005 the Lancer Group, of which Mr Silver was the sole director, carried on a business without holding the required licence.
The charges also relate to the distribution of Westpoint promissory notes.
Mr Button, who was a director of Button Building Consultants, Mr Shepherd, the sole director of Pinnacle Enterprises International, and Mr Sneddon, the sole director of World Investment National, are also charged with aiding, abetting, counselling and procuring their respective companies to provide a financial service on behalf of the Lancer Group.
The charges relate to $816,000 of investments made by nine investors in promissory notes issued by various Westpoint mezzanine companies.
Mr Silver will return to court on May 5 while the other three men will appear tomorrow.
Another man, Russell Collins-McBride, has appeared before court in Adelaide, facing charges relating to financial products including Westpoint promissory notes worth more than $8 million without a licence.
He will next appear in court again on June 12.