The Australian Securities and Investments Commission has disqualified Yuetu Ma, also known as Jack Ma, from managing corporations for four years over his conduct as a director of Warwick Gold Holdings Pty Ltd and Impact Gold Ltd. The companies entered liquidation in 2024 after raising AUD 44 million from about 400 shareholders for purported gold and precious metal mining operations, with no assets identified. ASIC found that Ma’s management fell well below the standard expected of Australian directors. Most seriously, he failed to participate in managing the companies. He also failed to make reasonable inquiries about Impact Gold’s solvency, ensure that it kept financial records and provide required information to the companies’ liquidators. The disqualification runs until Sept. 21, 2030. Ma may seek a review by the Administrative Review Tribunal.
2026-09-25Australian Securities & Investments Commission
Australian Securities and Investments Commission disqualifies Yuetu Ma from managing corporations for four years over failed gold companies
The Australian Securities and Investments Commission has disqualified Yuetu Ma from managing corporations for four years over governance failures at two collapsed gold companies. The companies raised AUD 44 million from about 400 shareholders, but no assets were identified when they entered liquidation in 2024. The ban runs until Sept. 21, 2030.