business
Australian Regulator Cancels Capital Guard Financial License
ASIC cancelled the Australian Financial Services License held by Capital Guard after finding the firm used fake documents to obtain investor funds. The company had presented a Sydney Harbour address while its sole director lived in Melbourne.
The Sydney Morning HeraldAudio version
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The Australian Securities and Investments Commission cancelled Capital Guard's Australian Financial Services License on Thursday after determining the firm used fabricated documents to raise at least $100,000 from investors for a nonexistent bond. The regulator stated that Capital Guard also posted misleading statements on its website, altered third-party scam warnings, and supplied false documents to an auditor.
The company had acquired the license when it purchased the business in 2024.
Guard listed its address at Level 36 of the Gateway Building at One Macquarie Place in Sydney, a tower with views of the Harbour Bridge and Opera House. The same floor is occupied by ServCorp, which provides virtual offices and mail-forwarding services.
The company's sole director and shareholder is listed in corporate records at an address in Wollert, an outer Melbourne suburb more than 800 kilometres from the Sydney office. Property records show the director and a woman sharing the same surname own the Wollert property.
Until late last week the Capital Guard website stated the firm had held its license since 2017 and warned clients about impostors claiming to represent the company. After the ASIC announcement, calls to the listed number reached a receptionist who later redirected inquiries to an automated message directing callers to ASIC and the Australian Financial Complaints Authority.
By Monday the website was no longer accessible. ServCorp did not respond to requests for comment on whether Capital Guard was a client. ASIC said its investigation into the firm remains ongoing. The Australian Financial Complaints Authority database showed no complaints against Capital Guard as of the most recent monthly update.
