SFO launches investigation into advisory firm

The investigation was opened under Part II of the SFO Act, where "the director has reasonable grounds to believe that an offence involving serious or complex fraud may have been committed."

The company is suspected of soliciting up to $4 million from an estimated 80 investors, and there are concerns as to whether those funds have been used in accordance with investment instructions.

SFO chief executive Adam Feeley said "we encourage any past or current clients of Investment Solutions Ltd that may have information that would be relevant to our investigation to contact the Office."

The SFO said a financial analysis has been completed and it is working with the Companies Office, which is managing the recovery of assets from the company.