Australian Securities and Investments Commission ( ASIC) announced today that it is closing A One Multi Services, an illegal financial service, for suspected involvement with illegal activities. This includes the purchase of illegal crypto assets.
ASIC secured interim orders and injunctions against A One Multi from the Federal Court in Queensland. Aryn Hala, Heidi Walters and other directors of the company, were also ordered by the commission.
ASIC released details showing that more than 60 customers deposited more $25 million in accounts at A One Multi between January 2019 and June 2020. ASIC reports that more than $2.4million was transferred from A One Multi for the purchase of crypto assets.
It is claimed that Mr Hala claims to be able to help investors invest their superannuation into a self-managed superannuation funds (SMSF), and then loan the money from their SMSF to A Multi. ASIC claims that Mr Hala promised investors annual investment returns exceeding 20%. ASIC highlighted.
The Court ordered Mr Hala, 21 October 2021 to transfer cryptocurrency assets to his name to the receivers. The Court ordered Mr Hala to transfer the first tranche of crypto assets to the receivers on 25 Oct 2021. The Court also imposed travel restrictions on Mr Hala, and Ms Walters.
“On the 1st of November 2021, the Court issued further orders requiring defendants to attend an ASIC Office to facilitate the transfer remaining crypto-assets controlled or held by them to the receivers,” ASIC concluded.
ASIC quickly obtained the orders due to the ease with crypto-assets can transferred or transacted.