Trio fall: five more banned
- {{x.value}}
{{ twilioFailed ? 'SMS Code Failed to Send…' : 'Enter verification code' }}
{{ completedStep1 ? 'Authentication & Security' : content.trialHeading.replace('{0}', user.FirstName) }}
{{ content.upgradeHeading.replace('{0}', user.FirstName) }}
The email address you entered is registered with InvestSMART
Please login to continue
We have sent you an email with the details of your registration.
Looks you are already a member. Please enter your password to proceed
{{ upgradeCTAText }}
Updating information
Please wait ...
Your membership to InvestSMART Group recently failed to renew.
Please make sure your payment details are up to date to continue your membership.
Having trouble renewing?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
You've recently updated your payment details.
It may take a few minutes to update your subscription details, during this time you will not be able to view locked content.
If you are still having trouble viewing content after 10 minutes, try logging out of your account and logging back in.
Still having trouble viewing content?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
Please click on the ACTIVATE button to activate your Intelligent Investor 15-day free trial
Please click on the ACTIVATE button to finalise your membership
Unsuccessful registration
Registration for this event is available only to Eureka Report members. View our membership page for more information.
Registration for this event is available only to Intelligent Investor members. View our membership page for more information.
- You are already registered for this event.
- This event is already full.
- Please select a quantity for at least one ticket.
- {{ i }}
Forgotten password
Please enter your email address below to request a new password
- Verify your email address by clicking on the link we sent to {{user.Email}}
- You now have free access, we look forward to helping you on your financial journey.
The Australian Prudential Regulation Authority said on Thursday it had accepted enforceable undertakings from former Trio directors Cameron Anderson, Michael Anderson, Terrence Hallinan, Lorenzo Macolino and John Harte.
All five have been banned from working in the superannuation industry for a set number of years, the shortest being four years, and the longest 12 years.
Trio collapsed in 2009, affecting more than 6000 investors. A joint parliamentary inquiry said it was the "largest superannuation fraud in Australian history".
Trio had invested some assets of its funds into a managed investment scheme called Astarra Strategic Fund. Most of those assets were directed into Caribbean hedge funds. More than $176 million went missing when the fund collapsed.
According to the ASIC website: "There is little, if any, credible evidence that the purported investments were actually made ... Most of the assets invested were subsequently lost."