Australian Securities & Investments Commission bans Jack Gould from financial services for four years over misuse of investor funds

The Australian Securities & Investments Commission has banned Queensland property developer Jack Gould from providing financial services for four years after finding he lacked the competence, experience and professional qualifications required to do so. The action follows ASIC's finding that, through Beanstalk Projects, investor money raised for nominated property developments was used for other purposes, including transfers to other Beanstalk Projects entities, other developments, payments to other investors and general business expenses. ASIC also found that Gould was not a fit and proper person, was not adequately trained or competent, and was likely to contravene financial services laws. The ban prevents him from providing financial services, performing any role in a financial services business, and controlling an entity that carries on such a business. The order took effect on 8 July 2026. ASIC's notice also states that Gould may apply to the Administrative Review Tribunal for a review of the decision.