The Australian Securities & Investments Commission (ASIC) has secured Federal Court orders freezing the assets of Rashid Alshakshir in connection with its ongoing investigations into the Shield Master Fund and the First Guardian Master Fund. ASIC is investigating Mr Alshakshir and entities associated with him in relation to the provision of marketing services, including lead generation, and payments for those services connected to the two fund investigations. Mr Alshakshir is a director of Lion & Horn Pty Ltd (in liquidation), Nohap Pty Ltd (in liquidation) and Indigo Group Pty Ltd (in liquidation); the asset-freezing orders were made with his consent and remain in place until further order. ASIC previously sought travel restriction orders against Mr Alshakshir in January 2025, obtaining temporary ex parte orders before the Court dismissed its application for interim travel orders on 22 January 2025.
Australian Securities & Investments Commission 2025-03-18
Australian Securities & Investments Commission obtains Federal Court asset freeze against Rashid Alshakshir linked to Shield and First Guardian investigations
The Australian Securities & Investments Commission (ASIC) has obtained Federal Court orders to freeze the assets of Rashid Alshakshir amid investigations into the Shield Master Fund and the First Guardian Master Fund. ASIC is probing Mr. Alshakshir and related entities for marketing services and payments linked to these funds. Mr. Alshakshir, a director of several companies in liquidation, consented to the asset-freezing orders, which remain effective until further notice. Previously, ASIC's attempt to impose travel restrictions on Mr. Alshakshir was dismissed.