Adviser accused of kickbacks from developer

AN unlicensed Queensland financial adviser accused of taking kickbacks from property developers is being investigated by the corporate watchdog.

Richard Gardner is accused of recommending clients set up self-managed superannuation funds to build or purchase new investment properties from specific developers, for which he received substantial commissions.

The Australian Investments and Securities Commission says in a statement today that it will seek a court order at the Brisbane Supreme Court on February 12 to stop Mr Gardner's unauthorised business.



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