Ex-Young Rich lister Jeremy Reid copped a two-year ASIC ban from providing financial advice in 2013 over the regulator’s concerns that in his role at Everest Financial he had prioritised redemption requests made by family members over those made by members of the Everest Babcock & Brown Income Fund.

By the time the ban was handed down, he had long been living in the United States and working on his new samples start-up. Five years later, he managed to list said start-up on the ASX, breezily raising $8 million with the backing of a coterie of blue-chip investors such as Ryan Stokes, Paul Little, John Gandel, Walter Pisciotta, Josh Liberman and David Droga.