Australian Securities & Investments Commission permanently bans Trent Giumelli from financial services over unlicensed property investment schemes that raised around AUD 48 million

The Australian Securities & Investments Commission has permanently banned property developer Trent Simon Giumelli from providing financial services after finding serious incompetence and irresponsibility, a disregard for the law, and a lack of fairness, professionalism and trustworthiness. The action follows ASIC’s finding that, through companies collectively known as the Giumelli Group, he ran real estate wealth coaching programs and offered members opportunities to invest in property developments through unregistered managed investment schemes while carrying on a financial services business without an Australian financial services licence. ASIC found the conduct continued for eight years and raised around AUD 48 million from members of the public across 27 projects. The ban prevents Mr Giumelli from providing any financial services, performing any function involved in carrying on a financial services business, including as an officer, manager, employee or contractor, and controlling an entity that carries on a financial services business. ASIC also found he had not complied with financial services laws, was not adequately trained or competent, and was likely to contravene those laws. The banning order took effect on 6 May 2026 and has been recorded on ASIC’s Banned and Disqualified Register. Mr Giumelli has the right to apply to the Administrative Review Tribunal for a review of ASIC’s decision.