Drivel. Why would ASIC give them a new licence if they have firstly been trading not having had one and then been operating under completely the wrong one? ASIC will shut them down or so severely restrict them so as to stop them taking on any further business. Further, the court said that they have not been dealing with clients funds in an appropriate manner which would suggest that funds are not held at arms length from the company or in a trust account.
I do not wish to be negative but why would the company tell you anything else apart from its all okay. Travel bans are not imposed when you're getting a new licence are they? not in my experience. Isn't that what happens to people facing criminal conviction who are a flight risk?
It baffles me the naivety I see here and the lack of basic research that goes into making investments before parting with large amounts of money. Professional traders with the backing of the worlds largest most aggressive investment banks cannot even come close to the sort of returns these guys were offering but who are we to say whether a bunch of blokes in a serviced office in Bondi cant outperform the market?
The worst case scenario is not that everyone gets their money back. Don't be so naïve.
As for earlier comments about if it were a Ponzi scheme they would have fled by now, do some research on Ponzi schemes throughout history, they always get caught when the money runs out.
I do not wish to be negative but why would the company tell you anything else apart from its all okay. Travel bans are not imposed when you're getting a new licence are they? not in my experience. Isn't that what happens to people facing criminal conviction who are a flight risk?
It baffles me the naivety I see here and the lack of basic research that goes into making investments before parting with large amounts of money. Professional traders with the backing of the worlds largest most aggressive investment banks cannot even come close to the sort of returns these guys were offering but who are we to say whether a bunch of blokes in a serviced office in Bondi cant outperform the market?
The worst case scenario is not that everyone gets their money back. Don't be so naïve.
As for earlier comments about if it were a Ponzi scheme they would have fled by now, do some research on Ponzi schemes throughout history, they always get caught when the money runs out.