Christian Financial faces $6.2 million loss in latest trading day – Financial Times
Posted March 08, 2020 14:36:59A week after it lost a reported $6 million in trading at the end of last week, Christian Financial is struggling to make its money.
The Australian Financial Review has learned the Australian Securities and Investments Commission (ASIC) is seeking to have the company taken to court.
The regulator is seeking the company to show it has not been making profit from trading or the sale of shares.
It is also asking for a court order to prevent it from selling shares and to prevent the company from issuing any more shares.
Christian Financial has a market value of $US50 million.