ASIC Moves to Dissolve Capital Guard

ASIC has moved to wind up Capital Guard AU, a firm that marketed itself as a specialist in Australian fixed‑income products, after uncovering serious concerns about the way it handled investor money.

Regulatory action and legal proceedings

The Australian Securities & Investments Commission told the Supreme Court of New South Wales it wants an independent liquidator appointed to take control of the company, investigate its affairs and recover assets where possible. The court listed a directions hearing for July 20, and ASIC cancelled Capital Guard’s Australian financial services licence on June 29.

According to the filing, about 80 investors may be affected, with total funds at risk estimated at roughly $17.4 million. ASIC said the company allegedly promoted bond investments that either did not exist or were not available as described.

Investigators also found that Capital Guard used investor money in ways that contradicted the representations it gave to clients about how those funds would be invested. Auditors failed to detect the false information supplied to them.

Alleged misrepresentations and false documentation

One of the key accusations involves a counterfeit prospectus for a Macquarie Bank bond that never existed. The fabricated document was used to solicit investor funds, misleading clients about the nature of the investment.

The company, run by sole director Mark Tasiyan and based on Level 36, 1 Macquarie Place in Sydney, claimed to be a “leading provider of financial products designed to promote wealth growth and safeguard investments.” Its website, now offline, had promised “responsible investment strategies to help clients build robust portfolios.”

Capital Guard held an Australian financial services licence from August 15 2017, but the regulator notes that the previous financial services business was sold in 2024 to its current management, a detail that raises further questions about the firm’s continuity and oversight.

Impact on investors and next steps

Customers have taken to the review platform Trustpilot to report that they cannot reach their account managers, with calls and emails left unanswered. The filing indicates a “breakdown” in the company’s governance and management, though ASIC has not disclosed the identities of the individuals behind the scheme.

While the liquidator’s appointment is pending, the primary goal is to preserve any remaining assets and return funds to affected investors where possible. The court’s directions hearing will set out the timetable for these actions.

The case draws attention.

In similar cases, Australian authorities have often struggled to recover investor money, especially when false documentation is involved. The current situation mirrors past enforcement actions where the lack of transparent records made asset tracing difficult, suggesting that the outcome may depend heavily on the liquidator’s ability to untangle the company’s financial web.

For now, the focus remains on legal proceedings and the potential recovery of that amount. Investors are advised to monitor official ASIC communications for updates on the liquidation process and any forthcoming distribution of recovered assets.