ASIC has banned the director of Element Finance Group from engaging in credit activities. Mr Zheng had acted recklessly in providing false documents in support of four loan applications between September 2017 and February 2018.

https://asic.gov.au/about-asic/news-centre/find-a-media-release/2019-releases/19-304mr-asic-bans-west-australian-finance-broker-and-cancels-australian-credit-licence-of-element-finance-group/