Overview
ASIC has banned Queensland property developer Jack Gould from providing financial services for 4 years. The ban took effect on 8 July 2026 and is recorded on ASIC's Banned and Disqualified register.
Background
Gould operated a business called Beanstalk Projects from around 2015, raising funds from investors for specific property developments. ASIC found that instead of applying those funds to the nominated developments, the money was transferred to other Beanstalk Projects entities, used for different developments, paid to other investors, or spent on general business expenses.
Gould was an authorised representative of Guildfords Funds Management Pty Ltd between 5 October 2021 and 16 November 2023.
ASIC's findings
ASIC determined that Gould:
- is not a fit and proper person
- lacked the required training and competence
- is likely to breach financial services laws
Scope of the ban
The ban covers:
- providing any financial services
- working in any role within a financial services business, including as an officer, manager, employee, or contractor
- controlling any entity that carries on a financial services business
Review rights
Gould has the right to apply to the Administrative Review Tribunal to review ASIC's decision.
Key actions
- If you invested with Beanstalk Projects or Jack Gould, check ASIC's Banned and Disqualified register at asic.gov.au to confirm the ban details and consider seeking independent legal advice about recovering your funds.
- If your business uses authorised representatives or works within a financial services network, verify your representatives' current status on ASIC's Banned and Disqualified register before engaging them.
- If you are considering investing in a property development that raises funds from multiple investors, check that the person managing the funds holds the correct ASIC authorisation and is not listed on the Banned and Disqualified register at asic.gov.au.
This is a plain-English summary for information only, not legal or compliance advice. Always check the official source or consult a qualified professional.