Levitt Robinson have brought a class action in the Supreme Court of NSW against St George Bank (now Westpac) and the estate of the late Anthony “Tony” Famularo, on behalf of former clients of Famularo’s who had mortgages with St George or who invested in companies that had margin loans in St George. The lead plaintiffs are Diana O’Dea and Thomas Vaarzon-Morel. On 7 December 2017, Justice Sackar approved the discontinuance of the claim against Famularo’s estate.
The claim alleges that Famularo was operating an illegal managed investments scheme and that he breached his duties to his clients as their financial advisor. It is also alleged that St George knew about the problems with Famularo but continued to trade with him regardless, to its own benefit and to the detriment of Famularo’s clients.
If you were a client of Famularo’s, contact us to see if you are eligible to register for the class action.
The following documents are available for download: