This article is from the Australian Property Journal archive
Canadian police have nabbed Melbourne investment spruiker Gabrial Pennicott late last week.
The Australian government requested Canadian authorities issue a provisional arrest warrant for Pennicott on 47 charges laid by the Australian Securities & Investment Commission.
ASIC’s investigation and subsequent charges against Pennicott relate to the circumstances surrounding the promotion of investment opportunities to investors, the transfer of funds raised by such investments between companies controlled by Pennicott and the repayment of the investments.
Pennicott is expected back in Australia soon, meanwhile ASIC’s investigations into the schemes continue.
Australian Property Journal
