Mayfair founder cops 20 year ban

Federal Court Justice Anderson ruled that, for a period of 20 years, Mr Mawhinney will be restrained from soliciting funds in connection with any financial product, receiving funding in connection with any financial product, and advertising or marketing any financial product.

Mr Mawhinney will also be barred from removing or transferring from Australia any assets acquired directly or indirectly with funds received in connection with any financial product.

More to come.