On 5 April 2022, the Federal Court made interim travel restraint orders against Mark Francis McCabe, the former director of Guevara Capital Access Pty Ltd and Online Trading Capital Pty Ltd.

ASIC applied for these orders because it is concerned that from 31 July 2014 and ongoing, Mr McCabe may have engaged in dishonest conduct regarding a financial product or financial service. This may have involved promises by Mr McCabe to provide clients with access to foreign exchange trading accounts containing large amounts of funds, but instead providing access to demonstration accounts that did not contain any real capital.

At a hearing on 8 April 2022, the Court ordered that, until 26 April 2022:

• Mr McCabe be prohibited from leaving Australia without the consent of the Court;
• Mr McCabe be restrained from applying for the issue of any passport, visa or other document permitting international travel; and
• Mr McCabe’s trustee in bankruptcy deliver his passport to the Sydney Registry of the Federal Court.

ASIC’s investigation into Mr McCabe is ongoing. The matter is listed for hearing on 26 April 2022.

Any person who is concerned they have invested with Mr McCabe, Guevara Capital Access or Online Trading Capital can contact ASIC.

Download

5 April 2022 interim orders (PDF 163 KB)

8 April 2022 interim orders (PDF 201 KB)

Editor's note:

On 26 April 2022, the Federal Court made further orders:

• Prohibiting McCabe from leaving Australia without the consent of the Court until 26 August 2022;
• Restraining Mr McCabe from applying for the issue of any passport, visa or other document permitting international travel; and
• Requiring that the passport previously delivered by his trustee in bankruptcy remain in the possession of the Sydney Registry of the Federal Court until further order.

Editor's note 2:

The orders were vacated on 26 August 2022. Please see ASIC media release concerning the arrest and charging of Mr McCabe on 24 August 2022.