ASIC takes action against Paul Chiodo for $530 million investment loss
Paul Chiodo, operator of the Shield Master Fund, faces ASIC action for a scheme that lost $530 million in super savings of nearly 6,000 investors. ASIC alleges he misappropriated $305 million to fund luxury resort projects without investor consent. The commission is seeking financial penalties and bans for Chiodo and his colleagues for their roles in the collapse.
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Published 26 Jun 2026, 05:15 UTC · Updated 26 Jun 2026, 05:20 UTC
Summary by OZbrief Editorial. Original report: SMH. Editorial policy · Corrections
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