Australia’s corporate regulator, the Australian Securities and Investments Commission (ASIC), applied to the Supreme Court of New South Wales on Tuesday to have Capital Guard AU Pty Ltd wound up on just and equitable grounds.
ASIC wants an independent liquidator appointed to assume control of the company, examine its affairs and, where possible, preserve and recover assets. The application does not mean the court has ordered Capital Guard’s winding up.
ASIC’s investigation suggests Capital Guard has raised approximately $17.4 million from around 80 investors. The regulator said only a small portion of that money remains in known company bank accounts and payment platforms.
The regulator said it has concerns about Capital Guard’s management, the handling of investor money and whether bonds promoted to investors existed or were available in the form represented.
ASIC also said investor funds seem to have been deployed in ways that do not match the representations made to investors. Its concerns cover apparent false information given to the auditor, a breakdown in governance and failures to meet regulatory and reporting obligations.
The matter is set down for a directions hearing on 20 July 2026. ASIC said its probe into Capital Guard, related people and related entities remains ongoing.
ASIC cancelled the company’s Australian financial services licence on 29 June after citing serious misconduct, including the promotion of a purported Macquarie Bank bond. It placed Capital Guard on the Moneysmart Investor Alert List on 3 July and said the company’s website had been taken down.
