‘Disrespectful’: Reaction to Bankrupt influencer’s shocking Ramadan act

Gold Coast finance influencer Tyson Scholz has been raising eyebrows with his luxurious Dubai life despite recently declaring bankruptcy.

Gold Coast finance influencer Tyson Scholz is continuing to flaunt his lavish lifestyle just weeks after being declared bankrupt, but one new boast in particular has attracted fierce criticism.

The 38-year-old “finfluencer”, who styled himself online as “ASXWolf” was bankrupted last month by the Australian Securities and Investments Commission after the regulator investigated him for providing financial services without a license. He owed $436,000 for the cost of the investigation.

Since then, Scholz has emerged on social media from the UAE city of Dubai apparently unfazed by the regulator’s decision, living it up in high-end hotels and restaurants, and enjoying luxury cars and expensive booze.

Tyson Scholz, a finance influencer from Gold Coast, was recently bankrupted by ASIC for providing financial services without a license, but’s he’s back living large abroad.

A captured Instagram story showed him drinking alcohol while driving a $660,000 Rolls Royce during Ramadan, which is not allowed in Dubai.

Scholz’s luxurious lifestyle has raised eyebrows and attracted headlines since his bankruptcy, but a new Instagram story featuring a bottle of high-end champagne has attracted a new wave of criticism.

The video, captured and shared on X by a Queensland account showed Scholz behind the wheel of a $660,000 Rolls Royce, chugging a bottle of Dom Pérignon, vintage 2013 at the start of the Islamic holy month of Ramadan has his many critics fuming.

The post, which tagged Dubai Police, read: “Just letting you know one of our flogs escaped Australia, and he’s in your country.

“Imagine acting like this during Ramadan.”

Commenters pointed out drinking and driving was banned in Dubai, with one labelling the act “disrespect”.

Scholz, pictured here in Geneva in February, has been living large in 2024.

Drinking is banned outside licensed hotels, bars and restaurants in Dubai, with drink-driving even stringently enforced.

In UAE, there is no legal blood-alcohol limit; therefore, driving after any amount of alcohol is unacceptable.

Dubai’s own tourism material suggests drinking alcohol at all during Ramadan, despite being legal in very specific areas, is a frowned-upon affair.

“Forget about partying in Dubai during Ramadan,” the city’s tourism website states.

In some subsequent Instagram stories, Scholz posted a video of himself drinking Coca-Cola with a crescent moon and star emoji, seemingly a tongue-in-cheek nod at the outrage.

News.com.au has attempted to contact Scholz.

Scholz posted himself drinking Coca-Cola after the booze Instagram story.

Life of luxury continues for bankrupt ‘finfluencer’

Despite being bankrupt, Scholz’s 2024 social media feed appears to show he still enjoys travel and appears to be getting on with business.

“Working on a big mining deal,” he posted from a fancy Cape Town pad in February.

In January, he was sightseeing in Geneva, France and other locations in the European Alps.

His social media feeds currently promote Infinity Trading Academy described as a “comprehensive Australian Stock Market Beginner’s Course”.

Courses cost $595 per stage while a membership costs $995 and consulting services cost $2995.

The site also offers a four-week “shoutout” social media marketing campaign for $195.

Scholz, pictured visiting some European alps this year, owed $436,000 for the cost of a ASIC investigation and was declared bankrupt last month.

Scholz’s social media feed showed he claims to be working on a ‘big mining deal’ in South Africa in February.

Previous reports however, suggest personal and financial trouble.

The Australian Financial Review reported emails from the court as part of the regulator’s now-concluded bankruptcy case against him.

“I am currently residing overseas as I have currently been unemployed for the last 18 months,” he reportedly wrote to a lawyer representing ASIC.

Gold Coast finance influencer Tyson Scholz is living large in Dubai while already sightseeing in Geneva, France and other locations in the European Alps this year.

“Additionally, despite my best efforts on social media to pottrey (sic) positivity I have been going thru (sic) some serious deteriorating mental health issues coupled with my recent relationship stress.”

But debt that would cripple most appears not to faze the young man.

In 2021 it was reported Scholz sent copies of his Centrelink benefits to opposing lawyers as evidence that he was unable to pay a $760,000 debt he owed to his mother.

However, just a few days later, he posted a photo of himself on a 76-foot yacht in the Gold Coast. He even drew attention to the $5000 fuel bill for the yacht.