ASIC the toothless turtle is supposedly looking into the matter....

ASIC the toothless turtle is supposedly looking into the matter. It's still early days yet - they normally wait 10 years or so before pursuing charges.

But in the meantime McAuliffe and co have launched a new managed fund called "Basis Plus". I think it's an acronym for "Bullsh!t AS IS".
I've already reported it to ASIC, but they say that they can't do anything until someone has difficulty withdrawing funds. The truth of the matter is that even then they still probably won't do anything.