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Super dupers out of business.
Australasian Business Intelligence, May, 2006
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Byline: Matt Drummond
May 29, 2006 (The Australian Financial Review - ABIX via COMTEX) -- A 29 May 2006 court order will permanently shut down the operations of the PFS (Personalised Finance Solutions) group. The firm marketed do-it-yourself (DIY) superannuation schemes to unsophisticated investors. Fund director, Shaun White and his wife, Nicole, convinced investors to place their super into a DIY fund and to sign unlimited powers of attorney. The Whites directed investors' money into mismanaged property funds and used some for gambling and to pay credit card debts. A ...
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