ASIC has successfully sought sequestration orders in the Federal Court of Australia against social media finfluencer Tyson Robert Scholz.

The effect of the orders is to make Mr Scholz bankrupt.

ASIC sought the sequestrations orders after Mr Scholz failed to pay costs ordered by the Federal Court of Australia relating to proceedings brought by ASIC in December 2021.

ASIC has applied to the Australian Financial Security Authority to have trustees appointed over the assets of Mr Scholz.