ASIC obtains freezing orders associated to Defend | Australian Markets
For a second successive day, the Australian Securities and Investments Fee (ASIC) has moved towards Managed Funding Schemes, this time acquiring Federal Court docket orders freezing the property of Rashid Alshakshir, director of Lion & Horn Pty Ltd (in liquidation), Nohap Pty Ltd (in liquidation) and Indigo Group Pty Ltd (in liquidation).
ASIC mentioned it’s investigating Alshakshir and numerous entities related to him in relation to the supply of advertising providers (together with lead era) and the cost for these providers, in reference to its investigations into the Defend Grasp Fund (Defend) and the First Guardian Grasp Fund (First Guardian).
It mentioned these investigations are ongoing.
The Court docket made the orders with Mr Alshakshir’s consent. The orders are in place till additional order.
ASIC famous that on 20 January 2025, it sought journey restriction orders towards Alshakshir. Whereas ASIC obtained momentary ex parte journey restriction orders towards Mr Alshakshir, the Court docket subsequently dismissed ASIC’s software for interim journey orders on 22 January 2025.
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