ASIC Sues Shield Master Fund Directors

ASIC is suing former directors of the Shield Master Fund—including Paul Chiodo, Ilya Frolov, and Mark Yorston—for mishandling over $530 million in investors’ superannuation funds. The watchdog accuses them of diverting money without approval, failing to conduct proper asset valuations, and mishandling conflicts of interest—especially involving Chiodo and Frolov. Two compliance members are also named. With thousands of Australians’ retirement savings at stake, ASIC warns this case exposes serious failures in oversight and responsible investment management. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/2e974b438bc6c09f