Lamborghini-driving share trader Tyson “ASX Wolf” Scholz has been found to have breached laws relating to financial advice, in a landmark win for the corporate regulator against social media finance influencers.
In a judgment examining the Gold Coast resident’s use of Instagram, seminars and social media service Discord, and the “pumping” of stocks, the Brisbane Federal Court accepted a key argument in a case against Mr Scholz.
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Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au
Aleks Vickovich leads the Financial Review's coverage of wealth management, specialising in the business and regulation of investment markets, financial advice and superannuation. Email Aleks at aleks.vickovich@afr.com
