ASX Wolf faces ASIC bankruptcy threat over court costs
Globe-trotting sharemarket influencer Tyson “ASX Wolf” Scholz is being threatened with bankruptcy over a $450,000 debt to the corporate regulator.
Only two months after posting images of himself being served a glass of Bollinger champagne on a private jet in France, the Australian Securities and Investments Commission has filed a creditor’s petition against Mr Scholz.
Tyson Scholz, the ASX Wolf, posted he was in France in August.
ASIC confirmed the action related to an earlier cost order that Mr Scholz pay the regulator’s court expenses of $456,296.64 for a lawsuit it successfully filed against him in December 2021.
No money had yet been paid, ASIC said.
The Federal Court bankruptcy action marks the latest in financial turmoil for Mr Scholz, who has used the moniker “ASX Wolf” and has 118,000 followers on Instagram where he uploads images of Ferraris or himself with a laptop on a private jet with the hashtag #tradingstocks.
Also in August, he put images of himself riding an off-road motorcycle in Dubai saying he was “using the desert as a metaphor for trial, challenge and preparation”.
The 38-year-old Gold Coast native had in December last year been found to have been operating a financial services business without a required licence, something he had denied.
Evidence in that civil litigation showed Mr Scholz had posted on Instagram about micro-cap stocks – those companies with small market capitalisations whose share price could fluctuate wildly. He would also post images of champagne, expensive cars with licence plates such as “ASX Bull”, and expensive boats.
These posts were free, but he also promoted $500 online training sessions that he said were designed to show people how to trade. Another business he promoted
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