The Australian Securities and Investments Commission (ASIC) has banned Peter Aardoom of Brisbane from providing financial services, controlling an entity that carries on a financial services business and performing any function involved in the carrying on of a financial services business for eight years.
Mr Aardoom has been the director of JB Markets Pty Ltd since August 2016, and was a key person named on the Australian Financial Services (AFS) licence of JB Markets.
ASIC found that in 2023, Mr Aardoom, as sole director of JB Markets:
- entered into a false loan agreement between JB Markets and another company in relation to a $540,000 cash payment made by that company to JB Markets in 2021, knowing that the $540,000 payment was for equity in JB Markets and not a loan
- failed to issue shares to the other company in relation to the 2021 equity investment in JB Markets within the required timeframe,
- immediately…
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