Rogue branch lawsuit prompts Morgans payout offer
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Morgans, one of Australiaâs biggest stockbroking and wealth management outfits, has agreed to shell out $5.5 million to settle disgruntled client claims about an infamous branch.
The settlement offer, revealed by
The Australian Financial Review, follows Morgansâ own internal investigations having raised alarms about the branch.
Morgans were targeted over advice at its former Springwood branch in southeast Queensland. Â
Peter Braig
Still, Brisbane-based Morgans has staunchly defended the class action lawsuit about allegedly botched advice and the payout proposal is not an admission of liability. Morgans did not answer questions from the
Advance Nanotekâs hair-raising hypocrisy
Tom Richardson
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Weâve previously documented Advance Nanotekâs public criticisms of stock exchange operator the ASX. This time last year the suncream ingredient groupâs chief executive,
Geoff Acton, threatened to quit the bourse in protest at perceived injustices perpetrated against it.
So we could hardly believe our eyes this week to see Advance Nanotek is using its ASX listing to raise $4.7 million from investors, with $935,000 of the proceeds used to make loans to employees to purchase shares on market.
Thatâs right, the self-confessed ASX critic is issuing shares to raise money to lend back to employees to buy more shares on the ASX. And get this, existing shareholders have no choice but to tip into this hare-brained scheme or end up being diluted.
Former solicitor blocked from returning to profession amid ‘serious doubt’
By Naomi Neilson|11 May 2021
The Queensland Supreme Court has dismissed a former solicitor’s application to be readmitted following a build-up of concerning matters, including a failure to comply with the Code of Professional Conduct for tax agents and his willingness to cut and paste from his own affidavit to the court into those of his witnesses.
In 1998, Craig Bax was removed from the roll of practitioners after spending just four years in the profession. After climbing the ranks quickly to equity partner, Mr Bax backdated by six months a mortgage and deed of loan on behalf of a client so as to make it more difficult for the transactions to be challenged under bankruptcy.
A Gold Coast ice dealer earned up to $57,000 a week from her criminal operation and had drugs worth up to $500,000 buried in her backyard.
Allira Jade Campbell climbed the ranks of the criminal underworld until she was supplying street dealers and was convinced she would never be caught, the Courier Mail reported.
Even when she was behind bars she was chasing drug debts and in a phone call to a drug associate bragged that she would beat the charges. I hope they f king try to get me for 10 years. I m going to get out and f king do it again, I ll sell it to my grandchildren and get them hooked on it, she said in the recorded call on January 2, 2020.
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