This article is from the Australian Property Journal archive
CORPORATE regulator ASIC has permanently banned Western Australian-based property developer Desiree Veronica Macpherson from providing financial services.
ASIC found Macpherson had engaged in misleading and deceptive conduct, that she was not of good fame or character, that she had engaged in dishonest conduct and that she was involved in a contravention of financial services laws.
The investigation surrounded Macpherson’s involvement with the development and promotion of the Newman Estate Project in the Pilbara region of Western Australia.
Macpherson has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.
The permanent ban comes after the Federal Court wound up of 18 companies associated with the Macro Group last year.
In March 2016, ASIC also obtained orders against companies associated with property Jamie McIntyre, banning McIntyre’s 21 Century from promoting and marketing the investment proposal at The Newman Estate, who had enticed investors with the tagline ‘Do you know how to buy Australian property, no money down?’.
ASIC said yesterday that its investigation is ongoing.
Australian Property Journal
