ASIC has obtained urgent interim orders from the Federal Court to freeze the assets of Ashley Vincent Arandez and four companies of which he is a director.

ASIC sought these orders on an urgent, ex parte, basis because it is concerned that Mr Arandez, and/or these four companies, have allegedly: 

• carried on a financial services business, since June 2019, without holding an Australian financial services licence,
• obtained approximately $2.5 million from Australian investors based on false and misleading statements, including by suggesting their funds would be invested in property and cryptocurrency, and
• misused investor funds, at least in part, for personal benefit and to pay returns to other investors.

ASIC sought the orders to preserve funds available for people that might be harmed by Mr Arandez’s actions, including individuals and entities who may have invested with Mr Arandez, or paid Mr Arandez for financial services. 

The four companies that ASIC has sought orders against are:

• HLK Advisers Pty Ltd, as trustee for The HKA Trust,
• NCAA Holdings Pty Ltd, as trustee for The NCAA IP Trust,
• Mindenergetix Pty Ltd, as trustee for The Mindenergetix Trust, and
• AWM Australia Pty Ltd, as trustee for The AWM Australian Trust, (together, the Defendants)

Any person who is concerned they have received financial services from, or invested with, Mr Arandez or one of the above companies can contact ASIC at arandez.inv@asic.gov.au 

Today’s orders come after similar action was taken to freeze the assets of company director Sasha Hopkins and two of his companies, The A Team Property Group Pty Ltd and Sash Investment Holdings Pty Ltd, which included freezing various crypto assets (22-138MR). The Federal Court also made orders against A One Multi arising from unlicensed conduct and the transfer of investor funds into crypto assets (21-289MR). 

ASIC will continue to investigate and take action against unlicensed financial services businesses with a focus on misconduct involving cryptocurrency. 

Editor’s note:

On 26 September 2022, the Federal Court made orders, amongst others, to set a timetable for ASIC’s application to join another entity associated with Mr Arandez to the proceeding, Zednara Holdings Pty Ltd (ACN 107 584 332).

The matter has been listed for hearing on 31 October 2022.

Editor's note 2:

On 31 October 2022, the Federal Court made asset preservation orders in relation to Zednara Holdings Pty Ltd (ACN 107 584 332), these orders were made based on an application by ASIC.

Editor’s Note 3:

On 2 February 2023, the Federal Court made travel restraint orders preventing Mr Arandez from leaving Australia, or attempting to leave Australia, until 27 April 2023.