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ASIC bans Sydney finance broker

The Australian Securities and Investments Commission has permanently banned a Sydney motor vehicle finance and insurance broker after it was found he had engaged in dishonest conduct.Keith Son, who was the director of VIP Fleet, helped customers apply for vehicle finance and arranged for the loan proceeds to be paid into a bank account controlled by VIP.About A$150,000 was misappropriated in this way and was used for Son's own purposes.

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