ASIC has moved to shut down unlicensed financial services business A One Multi Services Pty Ltd (A One Multi), which is suspected to be engaging in unlawful activity.
ASIC successfully obtained interim orders and injunctions from the Federal Court in Queensland against A One Multi and its Gold Coast-based directors Aryn Hala and Heidi Walters to protect investors.
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%.
Between 1 January 2019 to 30 June 2021, more than 60 consumers deposited approximately $25 million into A One Multi's accounts. 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 from A One Multi to buy crypto-assets.
On 21 October 2021, the Court found there was a need to protect the investors, and potentially others, and made the following orders:
- an order putting A One Multi into the receivership of John Ross Lindholm and Timothy James Michael (the receivers);
- asset preservation orders against Mr Hala, Ms Walters and A One Multi;
- an order requiring Mr Hala to transfer crypto-assets in his name to the receivers;
- orders requiring the disclosure of information to ASIC against each of Mr Hala, Ms Walters and A One Multi, including in relation to the crypto-asset holding;
- travel restraint orders for Mr Hala and Ms Walters.
On 25 October 2021, the first tranche of crypto-assets held in Mr Hala's name was transferred to the receivers.
On 1 November 2021, the Court made further orders requiring the defendants to attend an ASIC office to facilitate the transfer of remaining crypto-assets held or controlled by the defendants to the receivers.
The orders were made pending a final hearing into the conduct of Mr Hala, Ms Walters and A One Multi.
ASIC moved swiftly to obtain the orders given ease with which crypto-assets can be transferred or transacted.
ASIC's investigation into Mr Hala, Ms Walters and A One Multi remains ongoing.
