Following an application made by ASIC, the Federal Court has made interim orders freezing certain assets of Melbourne-based financial adviser Ferras Merhi.

ASIC is investigating Mr Merhi and various entities associated with him, in connection with its investigations concerning certain managed investment schemes including the Shield Master Fund. These investigations are ongoing.

The interim orders are in place until 7pm (AEDT) on 4 April 2025. A final hearing to decide whether the orders should continue has been scheduled for 4 April 2025.

Background

Mr Merhi controls Venture Egg Financial Services Pty Ltd (formerly Ferras Merhi Pty Ltd) & United Financial Advice Pty Ltd, trading as Venture Egg and Financial Services Group Australia Pty Ltd (FSGA). Both Venture Egg and Mr Merhi are authorised representatives of Interprac Financial Planning Pty Ltd, an Australian Financial Services Licence (AFSL) holder. FSGA also holds an AFSL.