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Early super scheme frozen

ASIC has frozen the assets of the JV Superannuation fund, which allegedly was involved in an early release of superannuation benefits scheme.

ASIC also sought direct orders against Ms Jennifer Villanueva, who acted as trustee of the fund. The orders prevent her from dealing with the assets of the fund or leaving the country. ASIC believes that the scheme involves 39 people and over $1mn.

Source: ASIC media release, 07-220, 20 August 2007

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