ASIC investigation into former director or Adelaide financial firm continues
AUSTRALIA’S corporate regulator has cancelled the credit licence of an Adelaide financial firm amid an ongoing investigation into the company’s former director.
AUSTRALIA’S corporate regulator has cancelled the credit licence of an Adelaide financial firm amid an ongoing investigation into the company’s former director.
In a statement yesterday, the Australian Securities and Investments Commission said Vontelle Pty Ltd, a mortgage broking company based in Franklin St, had not complied with its obligation to “maintain the competence to engage in credit activities” since around September last year.
“In particular, ASIC was concerned that although James David Gibbs was listed as the key person for the credit licence, he had ceased to be an officer of Vontelle or to perform duties for the licensee,” the statement said.
“Vontelle had not notified ASIC that Mr Gibbs ceased to be key person, nor had it applied to vary this condition of its licence.”
Mr Gibbs was sole director of Vontelle from November 2011 until September 5, 2016. Since that time Helena Anna Gibbs has been sole director.
Records show that Mr Gibbs remains a director of James Gibbs Investments Pty Ltd, JD & HA Gibbs Pty Ltd, and Melito Pty Ltd.
ASIC said its investigations into Mr Gibbs are ongoing.
A man who answered the listed number for Vontelle said the company was no longer operating and that believed Mr Gibbs to be “hiding out in Alice Springs”.
“Good luck trying to find him,” he said.
“ASIC are investigating all of his activities.”
luke.griffiths@news.com.au