ASIC has permanently banned John Dimitropoulos

Reason:
Mr Dimitropoulos engaged in a range of contraventions under financial services and credit laws
Content of Penalty:

ASIC found that he:

  • made false statements to ASIC in Sunpac Finance’s annual compliance certificates about Sunpac Finance’s compliance processes and procedures;
  • was involved in Sunpac Finance and Heritage Financial Solutions’  breaches of their general conduct obligations as credit licensees;
  • was involved in Heritage Financial Solutions carrying on a financial services business without a license; and
  • engaged in conduct that demonstrated a fundamental lack of understanding of and regard for compliance with the law. 

Date: 22/09/2017
Link: http://asic.gov.au/about-asic/media-centre/find-a-media-release/2017-releases/17-322mr-john-dimitropoulos-permanently-banned-by-asic-from-financial-services-and-credit-in-connection-with-property-and-smsf-spruiking/