Australian Securities and Investments Commission - 12-127MR ASIC bans Victorian pay day lender

Thursday 14 June 2012. ASIC has banned Victor Manatakis, of Doncaster, Victoria, from engaging in credit activities for five years after an ASIC investigation found his payday lending business was an unlicensed credit provider. ASIC found that between August and October 2011, Mr Manatakis' Billpal engaged in credit activities relating to credit contracts without an Australian credit licence.

Source: http://media.australia.gov.au/notify/click.cgi?url=http%3A%2F%2Fwww.asic.gov.au%2Fasic%2Fasic.nsf%2Fbyheadline%2F12%26%2345%3B127MR%2BASIC%2Bbans%2BVictorian%2Bpay%2Bday%2Blender%3FopenDocument&collection=releases&rank=12&auth=89pmjpO9D0XQrIVtN6NFRA

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