Social media finfluencer Tyson Scholz, widely known as the ASX Wolf, has been declared bankrupt after failing to pay almost $500,000 in costs incurred last year following court action instigated by the corporate watchdog.
Scholz was ordered to pay the costs by the Federal Court of Australia after it found that he offered financial advice to investors without a financial services licence in proceedings brought by the Australian Securities and Investment Commission in December 2021.
ASIC has applied to the Australian Financial Security Authority to have trustees appointed over Scholzs assets in an attempt to retrieve its costs.
The court action is the latest in a string of proceedings against Scholz by ASIC, which last year banned him from…
Read the full article at: https://www.businessnewsaustralia.com/articles/asic-tips–asx-wolf–tyson-scholz-into-bankruptcy-over–500-000-in-court-costs.html