The Australian Securities and Exchange Commission (ASIC) has permanently banned former financial adviser Anthony Joseph Del Vecchio after his conviction of fraud.
The condemnation of Mr Del Vecchio’s widespread financial deception and the embezzlement of capital customers.
According to the Law on Companies, ASIC may permanently prohibit a person from the provision of financial services if convicted of fraud.
Mr. Del Vecchio has been permanently banned by:
- By providing any financial services
- control, either alone or in consultation with one or more other entities, an entity exercised by a financial service business and
- Performing any operation involved in the transfer of a Financial Services Company (including the officer, the director, the employee, the contractor or in some other property).
The ban came into force on September 15, 2025.
From November 2016 to October 26, 2023, Mr. Del Vecchio worked on Freedom Finance Australia as a financial adviser. In this employment, Mr. Del Vecchio was an authorized representative of the following entities who, then, possessed Australian Financial Services licenses:
- The PTY LTD Financial Services Partners (ACN 089512587, AFSL 237590) from December 12, 2018 to November 13 2020 and then
- Wealth Trail Ltd (ACN 634620956 AFSL 297239) from November 13, 2020 to October 18, 2023.
Between February 2020 and December 2023, while working as a financial adviser, Mr. Del Vecchio abused a total of $ 479,670 from customers, family and friends. He said the funds would be invested in bonds, shares and terms deposits.
On April 16, 2025, Mr Del Vecchio said guilty of Victoria’s Victoria court for twenty -four charges of acquiring a financial advantage. He was sentenced to serve 7 years of 6 months in prison with the possibility of a ban after 4 years.
Mr Del Vecchio has the right to attract the Court of Administrative Review to review the ASIC ruling.