Jun 26, 2026 – 12.53pmThe corporate regulator is suing the directors of the failed Shield Master Fund as it broadens its investigation into the scheme, which cost 5800 unsuspecting investors $530 million when it collapsed in early 2024.The Australian Securities and Investments Commission said it would allege the directors – Paul Chiodo, Ilya Frolov, Mark Yorston and compliance committee member Jeremy Danon – had risked millions of dollars on “related entities and third parties without proper safeguards”.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
ASIC sues directors of failed $530m Shield scheme
The corporate regulator has sued the directors of the failed Shield Master Fund as it escalates its enforcement around the collapse.
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