21/08/2019 - 15:26

ASIC bans Perth director

21/08/2019 - 15:26

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The Australian Securities and Investments Commission has banned Perth businessman Max David Goldenberg from providing financial services and engaging in credit activities for a period of eight years.

ASIC bans Perth director
ASIC launched proceedings against Superfunded in November 2017.

The Australian Securities and Investments Commission has banned Perth businessman Max David Goldenberg from providing financial services and engaging in credit activities for a period of eight years.

Currambine-based Mr Goldenberg was the sole director of Superfunded Pty Ltd, which ASIC said operated an illegal early access to superannuation scheme in Perth, enabling people to use their superannuation savings to buy a home.

Superfunded provided financial services and engaged in credit activities but did not hold an Australian financial services licence, or an Australian credit licence, and was not acting as an authorised representative of another licensee.

ASIC found Mr Goldenberg had been involved in a contravention of financial services legislation and was not adequately trained, or competent, to provide financial services as he demonstrated a lack of professionalism, integrity and diligence.

As a result, ASIC found Mr Goldenberg was likely to contravene financial services law again.

ASIC launched proceedings against Superfunded, Claremont-based Mark Travis Goldenberg, who was the company’s sole shareholder, and Max Goldenberg in November 2017.

On an application by ASIC, SuperFunded was placed into liquidation in March 2018.

In June 2011, Mark Goldenberg pleaded guilty to misusing $1.5 million of investor funds for his own benefit as director of Mortimer Close Pty Ltd and was sentenced to three years' jail by the Perth District Court.

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