The Australian Securities & Investments Commission announced that Ashley Vincent Arandez has pleaded guilty in the Victorian County Court to dishonest conduct in relation to a financial product or financial service, carrying on a financial services business without a licence and recklessly dealing with proceeds of crime, for conduct between September 2017 and April 2021. The charges relate to Mr Arandez operating a financial services business through which he encouraged clients to invest in business ventures he controlled, resulting in AUD 1.97 million being transferred to him while he provided financial product advice without holding an Australian Financial Services Licence or a valid authorised representative licence. The Commonwealth Director of Public Prosecutions is prosecuting the matter following an ASIC investigation and referral; ASIC previously obtained Federal Court orders freezing Mr Arandez’s assets (later expanded to include travel restraint orders). A sentencing hearing is scheduled for 20 October 2025.
Australian Securities & Investments Commission 2025-08-05
Australian Securities & Investments Commission reports guilty plea in unlicensed financial services case involving AUD 1.97 million
Ashley Vincent Arandez pleaded guilty in the Victorian County Court to charges of dishonest conduct in financial services, operating without a licence, and recklessly dealing with crime proceeds from September 2017 to April 2021. He encouraged investments totaling AUD 1.97 million without an Australian Financial Services Licence. The Commonwealth Director of Public Prosecutions is prosecuting after an ASIC investigation led to Federal Court orders freezing his assets and imposing travel restraints.