ASIC worked hard for Mawhinney’s scalp
When a Federal Court judge banned Mayfair 101 founder James Mawhinney for 20 years, the court exposed his brazen efforts to bypass consumer protection laws and take advantage of the ‘sophisticated investor’ loophole.
April 19, 2021
- Australian Financial Review
the court exposed Mawhinney’s brazen efforts to bypass consumer protection laws and take advantage of the “sophisticated investor” loophole.
Mayfair 101Mayfair 101 operated within the statutory guidelines. It was allowed to offer and receive investment from qualified investors. There is no loophole - it is a law relied upon by every financial...
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Australian Financial ReviewWhen a Federal Court judge banned Mayfair 101 founder James Mawhinney for 20 years
Mayfair 101The judgement was overturned on appeal.
ClarificationOutdated
