ASIC investigation into Mr Chris Marco
On 1 November 2018, the Federal Court of Australia made asset preservation orders against Chris Marco, trading as Coastline Group, and a related entity, AMS Holdings (WA) Pty Ltd as part of an ongoing ASIC investigation. A copy of the orders can be found here.
The effect of these Orders is to:
- secure property (including cash in bank accounts, real estate and vehicles), while ASIC conducts its investigation; and
- preserve those assets, and prevent unauthorised disposal of those assets, which might in due course, be required to pay debts, compensation or damages to any persons who may have suffered loss as a result of the conduct that ASIC is investigating.
ASIC is aware of a number of investors who have investments with Mr Marco and his associated entities.
ASIC has to date approached a number of investors to seek information from them for the purposes of its investigation.
Further information can be found in:
- ASIC’s Media Release 18-354MR which can be found here or at www.asic.gov.au. This media release relates to the court proceedings commenced by ASIC on 1 November 2018 and is updated from time to time with editor’s notes;
- The Federal Court website at www.fedcourt.gov.au which contains information about any orders made and a list of documents filed in the court proceedings, including affidavits filed by ASIC in support of its proceedings. To find this information:
- Select [Find a Case];
- Select [Enter];
- Type in “WAD481/2018” in [Search by File Number];
- Click on the red coloured and underlined words, “WAD481/2018” that is underneath the heading, “File No”;
- Click on the cross next to the word, “CORPORATIONS” to expand the list;
- Click on the cross next to the word, “COURT EVENTS AND ORDERS” to see a list of the Orders made by the Court;
- Click on the cross next to the word, “DOCUMENTS FILED” to see a list of the documents that have been filed in these proceedings.
Investors wanting information about the ongoing court proceedings in relation to Mr Marco and his associated entities can complete a form and apply for access to some of the court documents. Information about how to apply for access is at https://www.fedcourt.gov.au/services/access-to-files-and-transcripts/court-documents/non-party-access.
Investors can also contact the ASIC investigation team by email at CMarcoinvestorliaison@asic.gov.au.
As the investigation is ongoing, ASIC is limited in the public commentary it can make about the matter at this time.