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

Keo Automotive Pty Ltd

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: Keo Automotive Pty Ltd admitted, and the Court found, that it provided car loans to consumers (119 loan contracts, January 2020 to August 2023) without a credit licence and charged unlawful interest (announced 2026-06-09). Penalty and other relief are still to be decided; the penalty hearing is listed for 3 and 4 November 2026. Diamond Wheels Pty Ltd and director Ken Keomanivong were also found liable. 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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