The Australian Securities and Investments Commission (ASIC) has sought to freeze the assets of Ashley Vincent Arandez who allegedly obtained $2.5 million from investors by suggesting that their funds would be invested in property or cryptocurrencies.
The regulator had obtained urgent interim orders for Arandez and the four companies of which he is a director to preserve funds available for people who may have been harmed by his actions.
These were Arandez and/or his four companies allegedly:
- Operating a financial services business, since June 2019, without holding an Australian financial services license;
- Obtained approximately $2.5 million from Australian investors based on false and misleading statements, including suggesting that their funds would be invested in real estate and cryptocurrency; and
- Misuse of investors’ funds, at least in part, for personal gain and to pay returns to other investors.
The four companies against which ASIC sought injunctions were:
- HLK Advisers Pty Ltd, as trustee of The HLK Trust,
- NCAA Holdings Pty Ltd, as trustee of The NCAA IP Trust,
- Mindenergetix Pty Ltd, as trustee of The Mindenergetix Trust, and
- AWM Australia Pty Ltd, as trustee of The AWM Australia Trust, (together, the Defendants)
Anyone concerned that they may have received financial services or invested with Arandez or any of the above companies may contact ASIC at [email protected]