The Australian Securities and Investments Commission (ASIC), announced today that it has moved to close the illegal financial business services, A One Multi Services for suspected involvement in unlawful activities, including the purchase of crypto assets from illegal funds.
ASIC obtained interim orders and injunctions from the Federal Court in Queensland against A One Multi. Additionally, the commission secured orders against Aryn Hala and Heidi Walters, the company’s directors based in Gold Coast.
The details released by ASIC indicate that over 60 consumers deposited more than $25 million into accounts of A One Multi between 1 January 2019 and 30 June 2020. According to ASIC, more than $2.4 million were transferred from A One Multi to purchase crypto assets.
“It is alleged Mr Hala represents to investors that he can help them invest their superannuation in a self-managed superannuation fund (SMSF) and then loan the money in their SMSF to A One Multi. ASIC alleges Mr Hala told investors that they would receive annual investment returns of over 20%,” ASIC highlighted.
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“ASIC alleges that Mr Hala has used more than $5.7 million of A One Multi’s money for his and Ms Walters’ personal benefit, including through acquiring real property and luxury vehicles in their names. In addition, more than $2.4 million has been transferred