Married At First Sight millionaire Justin Fischer is BANNED from managing companies for three years after his businesses went under owing $500k
Former Married at First Sight star Justin Fischer has been banned from managing companies for three years.
The soft serve millionaire, 43, was disqualified by The Australian Securities and Investments Commission (ASIC) in April, after acting as the ‘shadow director’ for two Queensland companies that went into liquidation.
As reported by The Daily Telegraph on Wednesday, ASIC found that Justin did not act in the best interests of the failed companies which owed $543,000 to creditors.
Whoops: Former Married at First Sight star Justin Fischer (pictured) has been banned from managing companies for three years
The entrepreneur, who founded lucrative yoghurt manufacturing business Brullen and has held roles at various hospitality companies, told The Daily Telegraph that his lawyers have lodged an appeal.
‘It’s a misunderstanding, my lawyers have lodged an appeal,’ he said.
‘There’s nothing interesting at this stage. They’re old businesses with an old business partner. I’ve not been involved with them for a long time.’
Remember them? Justin is pictured with Carly Bowyer on season five of Married At First Sight
Justin’s holding company Ocean Breeze Enterprises has been disqualified by ASIC. Ocean Breeze is the main shareholder for Brullen.
Daily Mail Australia has contacted Justin Fischer for comment.
In 2017, Brullen turned over $20million and last year was projected to turn over $35million, according to The Sydney Morning Herald.
Expensive taste: During his time on Married At First Sight last year, Justin was portrayed as a successful businessman with a taste for the finer things in life
The divorced father-of-two was portrayed on Married At First Sight as a successful businessman living a lavish lifestyle.
He was paired with Carly Bowyer on the social experiment, but they struggled with intimacy issues and eventually broke up.
Last year, it was alleged he had an account on Couchsurfing.com, a website that allows its members to sleep on one another’s sofas.
Hmm: Last year, it was alleged that Justin had an account with Couchsurfing.com, a website that allows its members to sleep on one another’s sofas