General
Federal Court orders businesses of Chris Marco be wound up after he ran alleged Ponzi scheme
A Perth businessman with a taste for classic muscle cars who is alleged to have run a Ponzi scheme and owes hundreds of millions of dollars to investors will have his businesses wound up, under Federal Court orders.
Key points:
Justice Neil McKerracher found Chris Marco ran a financial services business without a licence as well as an unregistered investment scheme.
It is believed up to 132 investors are owed at least $250 million by Mr Marco’s company AMS Holdings (WA) Pty Ltd, who the corporate watchdog alleges promised high returns because of his ability to tap into international private investment programs.
ASIC…
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