SkyNet Financial Services Pty Ltd
SR Group are looking into Skynet Financial Services Pty Ltd and the potential of undertaking recovery actions on behalf of affected investors.
If you are a current or former investor in SkyNet Financial Services we would like to hear from you. Please contact us using the form below to arrange a cost and obligation free discussion of your circumstances and the actions that may be available to you.
Background
In April 2023, ASIC permanently banned Skynet Financial Services Pty Ltd director Terence Rio Nugara, of Melbourne, Victoria, from providing financial services.
ASIC found that Mr Nugara misled his clients into believing they were investing in property developments across Melbourne, when in fact the purported developments did not exist. ASIC also found that Mr Nugara falsely represented to investors that investing in these property developments would generate them significant returns.
Mr Nugara obtained a total of $1.6 million from his clients by advising them to withdraw money from their existing superannuation funds and deposit it into self-managed super funds that he set up. ASIC found that Mr Nugara used these funds for his own purposes, including to pay off his own personal debts.
Crown prosecutor Angela Liantzakis said the 34 victims each lost between $150,000 and $3.4 million. Some of them, she said, were elderly and vulnerable, while others were close friends of Nugara who had attended the christening of his daughter.
Getting Help
If you are a current or former investor in Skynet Financial Services and are concerned about your investment, please contact us to discuss your options. SR Group can help you determine if and whether you have a potential claim on a cost and obligation free basis, as well as your options in pursuing a potential claim.
Similarly, if you received financial advice to invest in Skynet Financial Services, from any party, we would like to speak to you. Please contact us using the below form to arrange a free discussion of your circumstances and the actions that may be available to you.
If you are a current or former investor in SkyNet Financial Services we would like to hear from you. Please contact us using the form below to arrange a cost and obligation free discussion of your circumstances and the actions that may be available to you.
Background
In April 2023, ASIC permanently banned Skynet Financial Services Pty Ltd director Terence Rio Nugara, of Melbourne, Victoria, from providing financial services.
ASIC found that Mr Nugara misled his clients into believing they were investing in property developments across Melbourne, when in fact the purported developments did not exist. ASIC also found that Mr Nugara falsely represented to investors that investing in these property developments would generate them significant returns.
Mr Nugara obtained a total of $1.6 million from his clients by advising them to withdraw money from their existing superannuation funds and deposit it into self-managed super funds that he set up. ASIC found that Mr Nugara used these funds for his own purposes, including to pay off his own personal debts.
Crown prosecutor Angela Liantzakis said the 34 victims each lost between $150,000 and $3.4 million. Some of them, she said, were elderly and vulnerable, while others were close friends of Nugara who had attended the christening of his daughter.
Getting Help
If you are a current or former investor in Skynet Financial Services and are concerned about your investment, please contact us to discuss your options. SR Group can help you determine if and whether you have a potential claim on a cost and obligation free basis, as well as your options in pursuing a potential claim.
Similarly, if you received financial advice to invest in Skynet Financial Services, from any party, we would like to speak to you. Please contact us using the below form to arrange a free discussion of your circumstances and the actions that may be available to you.