Australian Securities & Investments Commission permanently bans former adviser Anthony Joseph Del Vecchio following fraud conviction

The Australian Securities & Investments Commission (ASIC) has permanently banned former financial adviser Anthony Joseph Del Vecchio from providing financial services following his conviction of fraud. The ban, effective from 15 September 2025, prohibits him from providing any financial services, controlling a financial services business, or performing any function involved in carrying on a financial services business in any capacity. ASIC linked the conviction to widespread financial deception and misappropriation of client funds. Between February 2020 and December 2023, Mr Del Vecchio misappropriated AUD 4,479,670 from clients, family and friends under the pretence the funds would be invested in bonds, shares and term deposits; he was employed by Freedom Finance Australia from November 2016 to 26 October 2023 and acted as an authorised representative of Financial Services Partners Pty Ltd (AFSL 237590) and later Wealth Trail Ltd (AFSL 297239). He pleaded guilty on 16 April 2025 to 24 charges of obtaining financial advantage by deception and was sentenced to 7 years 6 months imprisonment, with the possibility of parole after 4 years; the banning is recorded on ASIC’s banned and disqualified register. Mr Del Vecchio has the right to seek review of ASIC’s decision in the Administrative Review Tribunal.