Ashley Vincent Arandez, of Broadbeach, Queensland has appeared at the Melbourne Magistrates Court charged with three counts of dishonest conduct contrary to section 1041G of the Corporations Act and eight counts of dealing with proceeds of crime contrary to section 400.4 of the Criminal Code Act 1995.
Mr Arandez has also been charged with one count of carrying on a financial services business without holding an Australian Financial Services licence contrary to section 911A of the Corporations Act.
Following an ASIC investigation, it is alleged that between September 2017 to April 2021, Mr Arandez was promoting and carrying on a financial services business where he encouraged clients to roll over their superannuation into new self-managed superannuation funds and invest in various business ventures that he controlled.
It is alleged he dishonestly represented the nature of the investments being offered to clients.
Mr Arandez was arrested on 6 June 2023. He appeared at a filing hearing that day where he was released on bail to appear at the Melbourne Magistrates Court on 29 August 2023 for a committal mention.
This matter is being prosecuted by the Commonwealth Director of Public Prosecutions.