Court appoints receivers to Merhi’s property, liquidators to Venture Egg

Court Appoints Receivers to Merhi's Property and Liquidators to Venture Egg

The Federal Court has imposed further restrictions on Ferras Merhi and his firms, following an investigation by the Australian Securities and Investments Commission (ASIC).

ASIC alleged that Merhi and his firms received a combined $37 million in advice fees or marketing payments related to First Guardian and Shield.

Merhi is restrained from operating within the financial services industry.
He is accused of "unconscionable conduct, failed to act in the best interests of clients, gave conflicted advice, and provided defective statements of advice" while receiving millions of dollars.
Between 2020 and 2024, Merhi and his advisers allegedly advised clients to invest around $296 million into First Guardian and $230 million into Shield.

Merhi engaged in "unconscionable conduct, failed to act in the best interests of clients, gave conflicted advice, and provided defective statements of advice while receiving millions of dollars"

Author's summary: Court restricts Merhi from financial services industry.

ifa — 2025-10-29

Court Appoints Receivers to Merhi's Property and Liquidators to Venture Egg

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