The Australian Securities and Investments Commission (ASIC) has commenced proceedings against financial adviser Graeme Walter Miller and his related businesses, seeking to prevent him from providing financial services or managing corporations.
The relevant companies were CFS Private Wealth, Combined Financial Solutions and BDM Asia Pacific. The latter was formerly known as CFS Corporation, which was deregistered.
The regulator alleged that Miller:
ASIC further alleged that Miller may be continuing to provide financial services and/or raise funds from clients.
It said that Miller and the related CFS companies did not appear to have sufficient assets to repay investors in CFS Corporation, and that CFS Private Wealth failed to lodge its financial accounts for the 2016 and 2017 financial years.
The regulator sought court orders to:
The matter would be heard by the Federal Court in Brisbane this Thursday, 10 May.
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