Sign up for our free 8-week step-by-step e-course on how to land that dream job at one of Australia's top banks.Learn More

Dr. Mark Sinclair
Dr. Mark Sinclair, Mentor Education

Don’t deal with Aussie Rob – ASIC warns.

27 October 2013

ASIC has banned Aussie Rob Financial Services and Lifestyle Trader director Robert Lloyd Wilson from providing financial services, and has issued a stern warning to the public to refrain from dealing with the failed businessman.

Wilson, known on the Gold Coast as Aussie Rob, moved to Laos after the collapse of his share trading software company Lifestyle Trader in April last year and has left a debt in excess of $4.24 million and was forced to sell his Gold Coast company, Lifestyle Investor Services, and negotiate a deal with creditors for more than $1 million in debts after his business capitulated.

ASIC investigations found that the high-profile former director of a number of Gold Coast-based financial services companies had made misleading statement to the corporate regulator during investigations into his business activities.

ASIC has said that Wilson who did not possess an Australian financial services licence, continued to provide trade recommendations and Deputy Chairman Peter Kell commented that, “the public should avoid dealing with anyone promoting investment schemes that promise excessive returns, especially if they involve ‘get rich quick’ computer trading systems.”

We care about your opinion. What’s your take? Leave a reply