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Court freezes funds and assets of Ascent Investment and Coaching and its Western Australian director

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ASIC has obtained interim orders from the Federal Court freezing the assets of Ascent Investment and Coaching Pty Ltd (Ascent) and its director, Michael Jefferson Dunjey of Applecross, Western Australia.

ASIC’s application for these orders was made while ASIC investigates concerns that:

  • funds may have been raised through misrepresentations made to investors;
  • investor funds may have been improperly dealt with;
  • Ascent may have been operating an unregistered managed investment scheme.

Justice Darren Jackson ordered that Ascent and Mr Dunjey be restrained from (among other things):

  • removing property from Australia;
  • selling, charging, mortgaging, dealing with or disposing of property;
  • incurring new liabilities; or
  • withdrawing, transferring, disposing of or dealing with money held in bank accounts or with a financial institution (subject to limited exceptions).

Mr Dunjey was also ordered to surrender his passport and be restrained from leaving Australia.

ASIC sought the orders to help protect investor funds while an investigation is continuing.

The orders have effect until a further hearing before the Court which is listed to take place on 21 December 2021.

Any person who is concerned they have invested with Ascent can contact ASIC at [email protected].

This news item was originally published by the Australian Securities and Investments Commission (ASIC AU). For more information, please see the Source Link.

Regulator Information

Abbreviation: ASIC
Jurisdiction: Australia

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