ASIC Probes Prime Collapse
Prime Trust Action Group welcomes the news reports that ASIC has now launched a formal investigation into Prime Trust. If confirmed, we consider a formal investigation by ASIC to be a major step forward in bringing to account any parties who can be proven to have acted illegally. We also welcome the reports that certain individuals may be subjected to section 19 examinations and required to provide sworn testimony. Unitholders are referred to the following article from the Financial Review dated 20 July 2012 for further information..