The Australian Securities and Investments Commission (ASIC) said Friday that it has permanently banned former financial adviser Anthony Joseph Del Vecchio following his conviction for misappropriating more than $4.4 million from clients, family, and friends.
ASIC Permanently Bans Former Financial Adviser After $4.5m Fraud Conviction
Del Vecchio, who worked at Freedom Finance Australia from 2016 until 2023, was found guilty in April of 24 counts of obtaining financial advantage by deception.
He is said to have misled victims into believing their money was being invested in bonds, shares, and term deposits.
On 16 April 2025, the County Court of Victoria sentenced him to seven years and six months in prison, with parole possible after four years. The offences occurred between February 2020 and December 2023.
ASIC said the permanent ban prevents Del Vecchio from providing financial services, controlling or managing financial services businesses, or performing any function within them.
The decision took effect on 15 September 2025 and has been recorded on the regulator’s banned and disqualified register.
Chairman Paul S. Atkins stated that the ruling underscored the regulator’s commitment to safeguarding consumers from financial misconduct.
Del Vecchio had previously been an authorised representative for Financial Services Partners and later Wealth Trail, both licensed financial services providers.
ASIC noted he retains the right to appeal the decision through the Administrative Review Tribunal, though his fraud conviction already disqualifies him from future participation in the industry.
The regulator said the case underscored its ongoing focus on misconduct within financial advice.
