ASIC has banned Queensland property developer Jack Gould from providing financial services for 4 years after finding that he demonstrated a lack of competence, experience and professional qualifications required to provide financial services.

Through a property development business known as Beanstalk Projects, Mr Gould used investor funds raised for purposes other than the intended purpose. Investors were told their funds would be used for nominated property developments, however ASIC found that investor funds were instead transferred to other Beanstalk Projects entities, used for other developments, paid to other investors, or used for general business expenses.

ASIC found that Mr Gould was not a fit and proper person, not adequately trained or competent, and is likely to contravene financial services laws. Mr Gould has been banned for 4 years from:

• providing any financial services;
• performing any function involved in the carrying on of a financial services business (including as an officer, manager, employee, contractor or in some other capacity); and
• controlling an entity that carries on a financial services business.

The banning order took effect on 8 July 2026 and has been recorded on ASIC’s Banned and Disqualified register.

Mr Gould has the right to apply to the Administrative Review Tribunal for a review of ASIC’s decision.

Background

From around 2015, Mr Gould ran a property development business known as Beanstalk Projects. Through Beanstalk Projects and related entities, Mr Gould sourced, managed and marketed property developments with funds raised from investors.

Between 5 October 2021 and 16 November 2023, Mr Gould was an authorised representative of Guildfords Funds Management Pty Ltd.