ASIC obtains orders against Goldsky Global Access Fund Pty Ltd


ASIC office

The Queensland Supreme Court has appointed Anthony Castley of William Buck as receiver and manager over the assets of Goldsky Global Access Fund Pty Ltd, Kenneth Charles Grace and associated entities. Freezing orders were also made restraining the disposal of any property (including money and securities) by Mr Grace, Goldsky Global Access Fund Pty Ltd, Goldsky Asset Management Australia Pty Ltd and Goldsky Investments Pty Ltd.

Following an investigation, ASIC alleges that Mr Grace, through his companies:

  • operated a financial services business without holding an Australian Financial Services (AFS) license and, since at least 5 June 2018, was aware that an AFS licence was required; and
  • operated an unregistered managed investment scheme called ‘Goldsky Global Access Fund’ that has raised more than $16 million from more than 50 investors; and
  • used investor funds for his own personal use, including substantial payments to family members and the purchase of personal items.

ASIC commenced its proceedings in the Supreme Court for the appointment of a receiver to identify and secure the assets of the alleged scheme for the benefit of investors and creditors. The orders were made on an ex parte basis on 29 October 2018 and Mr Grace consented to the continuation of those orders on 1 November 2018.

Mr Castley is to provide a report to the court by 26 November 2018.

The matter returns to the court on 8 November 2018.

ASIC investigations into the current scheme are ongoing.

The complete announcement can be seen here.

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ASIC obtains orders against Goldsky Global Access Fund Pty Ltd

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