Watchdog sinks teeth into Perth financier

Westpoint casualty hauled before the court.

Madeleine Collins

Thu 08 Feb 2007

ASIC has commenced legal proceedings against a now defunct Perth-based company that channelled clients' money into Westpoint mezzanine investment products.

Last month the regulator sought to wind up Centro Financial Synergy Group and appoint a liquidator. The company has ceased to operate.

The regulator says Centro failed to comply with a request by ASIC to provide information about its financial services operation and lodge audited financial accounts.

It is understood that Centro is a principal member of the FPA, full member of the Mortgage Industry Association of Australia and holds a financial services license. Its managing director, Annamieke de Boer says she is a personally certified financial planner.

Centro offered advice on residential and commercial property, wealth creation, income protection, life trauma services and targeted retirees and self-managed super funds.

The matter will be heard in the Perth Federal Court on 28 February, 2007.