SMSF one-stop shop sees assets frozen, founder's passport seized

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A collapsed SMSF one-stop shop has had its assets frozen and travel restraints placed upon its founders.

The Federal Court in Adelaide has frozen all assets of the Charterhill group, a group of companies providing advice to clients on the establishment of SMFS, rollover of existing superannuation funds into an SMSF, sourcing and purchase of investment properties, property management, insurance and taxation. The court also ordered founder George Nowak and his wife Betty Nowak to surrender their passports, and has restrained their travel outside Australia.

The move came following an ASIC application, and an ASIC investigation into the collapse of the group is ongoing. Companies operated by the group have been placed under external control. The companies include:
  • Lending Solutions International Pty Ltd – liquidators appointed (Andrew Heard and Anthony Phillips of Heard Phillips)
  • Nova Real Estate Pty Ltd – external administrators appointed (Andrew Heard and Anthony Phillips of Heard Phillips)
  • EJ Property Developments Pty Ltd – receivers and managers appointed (Michael Basedow and Leigh Prior of Pitcher Partners)
  • Financial Wellness Pty Ltd – receivers and managers appointed (Michael Basedow and Leigh Prior of Pitcher Partners).

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