Regulatory Alerts2026-05-12
Former financial services director Ashley Arandez sentenced to more than 5 years imprisonment
ASIC announced that former financial services director Ashley Arandez was sentenced to 5 years and 6 months imprisonment for dishonest conduct, operating an unlicensed financial services business, and recklessly dealing with proceeds of crime. Arandez misappropriated $1.97 million from investors between 2017 and 2021 by promising high returns on controlled investments and using the funds for personal assets while unlicensed after June 2019. The conviction results in an automatic disqualification from managing corporations for five years following his release, serving as a deterrent against similar misconduct.
Share