ASIC obtains court order to ban adviser linked to collapsed Shield and First Guardian master funds

Ferras Merhi is alleged to have engaged in unconscionable conduct

ASIC found that Spooner gave inappropriate advice to some clients to invest in high-risk investments

Firm claimed it held intangible assets of $1.02bn when the balance sheet only actually recorded $11,180 – ASIC report

It said this was to protect retail investors from acquiring a product that may not be suitable

Their advertising campaign promoted a 60-month interest free and no deposit payment method for goods purchased at Harvey Norman

ASIC