The director of the Mayfair 101 team, James Mawhinney, will not be able to promote or raise funds in relation to financial products for 15 years after the Federal Court found that he had a “roasted attitude towards compliance” and gave the final orders of restraint to the ASE.
Finding that Mr Mawhinney had “a willingness to adopt an reckless approach to conducting a financial service business”, the Justice button ordered to contain for another 15 years by:
- Downloading or attracting funds over any financial product and
- Advertising, promoting or marketing any financial product.
Final orders bring the total period of disorders against Mr Mawhinney in 20 years, having undergone temporary restraint orders from August 13 2020 after ASIC procedures.
The Justice button said:
“The simple fact is that, in cases where the Mayfair team was in a serious financial problem, Mr Mawhinney decided to stop paying the investors’ amounts because of them and was willing to try to get the Mayfair team out of the hole that was pumping more money from unsuspecting investors.”
In its decision on relief, the Justice button found that “there is an unacceptable risk that, unless it limits that” Mr Mawhinney will conduct a financial services company that “adopts an economically reckless approach that exposes the investment public” investors and delivers misleading marketing material.
Its price refused to make the order that ASIC seeks that Mr Mawhinney would be limited by the abolition or transfer from Australia, any assets obtained directly or indirectly by the funds obtained in relation to any financial product.
Orders follow the court that found in July that Mr Mawhinney was associated or participated in law abuses committed by Mayfair 101, with the Justice button noting at the time when “Mr Mawhinney, the relentless anger of others’ responsibility, Final announcement. “
The Court will submit orders on costs later, as the Contracting Parties submit written submissions.
The Mayfair 101 Group has offered investments in multiple financial products, such as M+ M+ M / M+ Notes, the IPO wealth fund, Australian ownership bonds and iPO Capital. Companies that offered the basic notes and the IPO wealth fund are in liquidation and acquisitions to other products have been suspended in March 2020 by the Mayfair 101 team.
On April 19, 2021, the federal court held Mr Mawhinney from promoting and raising funds through financial products for 20 years. This ruling was overthrown on September 15, 2022 after Mr Mawhinney’s appeal and the matter was transferred to the Federal Court for another hearing. The hearing was heard before the Justice button between October 2024 and February 2025. On July 9, 2025, the court found that Mr Mawhinney participated or was associated with multiple violations of the law by Mayfair 101.
On December 22, 2021, the Federal Court ordered four companies to the Mayfair 101 team to pay a combined penalty of $ 30 million for misleading or misleading advertising.