ASIC freezes assets of Venture Egg’s Ferras Merhi
The Australian Securities and Investments Commission’s (ASIC’s) investigation into the Shield Master Fund has taken another turn with the regulator successfully having the Federal Court freeze the assets of Melbourne financial adviser, Ferras Merhi of Venture Egg and FSGA.
The regulator also announced it had frozen the assets of Osama Sadd, a former director of Aus SUper Compare Ltd and Atlas Marketing, another entity associated with the Shield Master Fund.
ASIC announced that following an application made by ASIC, the Federal Court has made interim orders freezing certain assets of Ferras Merhi.
The statement said ASIC is investigating Merhi and various entities associated with him, in connection with its investigations concerning certain managed investment schemes including the Shield Master Fund.
It said the investigations are ongoing.
ASIC said it is investigating Saad, and various entities associated with him, in connection with its investigations concerning certain managed investment schemes including the Shield Master Fund. These investigations are ongoing.
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