Former financial adviser Anthony Joseph Del Vecchio has been permanently banned by the Australian Securities and Investments Commission (ASIC) after his conviction for fraud.
The prohibition, which took effect on 15 September 2025, prevents Mr Del Vecchio from providing any financial services, controlling an entity that carries on a financial services business, or performing any function involved in the operation of such a business. ASIC has also recorded the ban on its banned and disqualified register. Under the Corporations Act, a fraud conviction allows ASIC to impose a permanent ban.
Mr Del Vecchio, who worked at Freedom Finance Australia from November 2016 until 26 October 2023, was an authorised representative of Financial Services Partners Pty Ltd (AFSL 237590) between 12 December 2018 and 13 November 2020, and of Wealth Trail Ltd (AFSL 297239) from 13 November 2020 to 18 October 2023.
Between February 2020 and December 2023, he misappropriated $4,479,670 from clients, family and friends under the pretence the money would be invested in bonds, shares and term deposits.
On 16 April 2025, in the County Court of Victoria, Mr Del Vecchio pleaded guilty to 24 charges of obtaining financial advantage by deception. He was sentenced to seven years and six months’ imprisonment, with eligibility for parole after four years.
Mr Del Vecchio may seek a review of ASIC’s decision in the Administrative Review Tribunal.
