Court finds south-west Sydney car dealership and former director engaged in unlicensed lending and charged unlawful fees

26-114MR

court order9 June 2026

Respondent

Ken Keomanivong

Facts

The Federal Court has found Diamond Wheels Pty Ltd, trading as Lansvale Motor Group, and Keo Automotive Pty Ltd provided car loans to consumers without a credit licence and charged consumers unlawful and excessive interest charges.

Outcome

Federal Court liability finding: Ken Keomanivong, a director of Keo Automotive Pty Ltd and former director of Diamond Wheels Pty Ltd, admitted, and the Court found him, liable for his involvement in the companies' unlicensed car lending and unlawful interest charges (announced 2026-06-09). Penalty and other relief are still to be decided; the penalty hearing is listed for 3 and 4 November 2026. See the ASIC source for the full terms.

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Read the source

https://www.asic.gov.au/about-asic/news-centre/find-a-media-release/2026-releases/26-114mr-court-finds-south-west-sydney-car-dealership-and-former-director-engaged-in-unlicensed-lending-and-charged-unlawful-fees

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