ASIC took civil action against investment scam in 2020 and closed down the unregistered managed investment scheme operated by Marco and AMS Holdings (WA) Pty Ltd, the AMS Holdings Trust.
ASIC’s probe and action lead to the criminal charges against Marco who now faces a maximum penalty for each offence of seven years imprisonment, or ten years if the person deceived is 60 years or older.
Earlier this month, ASIC announced that Trade360 operator, Sirius Financial Markets Pty Ltd, surrendered its licence, following an investigation by the regulator and a ban for two former directors.
