The Australian Securities and Investment Committee (ASIC) said on Friday that it has permanently banned former financial advisor Anthony Joseph del Vicho after being convicted of hiding more than $ 4.4 million of customers, family and friends.
Del Vecchio, who worked in Freedom Finance Australia from 2016 to 2023, was convicted in April 24 charges for obtaining a financial feature by deception.
He is said to have misled the victims to believe that their money is invested in bonds, stocks and range deposits.
On April 16, 2025, the Victoria Provincial Court sentenced him to seven years and six months in prison, with a conditional release after four years. Crime took place between February 2020 and December 2023.
Asek said that the permanent ban prohibits Del Vikio from providing financial services, controlling or managing financial services business or performing any job within it.
The decision came into effect on September 15, 2025 and was registered in the banned and organized record.
The Chairman of the Board Paul S. Atkins that the ruling stressed the organization’s commitment to protect consumers from financial misconduct.
Del Vecchio was previously an accredited representative of financial services partners and another wealth trail, both of whom were licensed financial service providers.
Asik indicated that he reserves the right to appeal the decision through the Administrative Review Court, although the fraud of it already does not care about future participation in this industry.
The organizer said that the case confirmed its continuous focus on misconduct within financial advice.