A former director of a private lender and brokerage has been permanently banned from the financial services and credit industries after being convicted of fraud.
The Australian Securities & Investments Commission (ASIC) has permanently banned Andrew John Spira, a former director of private credit lender Skyecap Pty Ltd and Pineapple Funding Pty Ltd, from the financial services and credit industries after he was convicted of fraud.
Spira was the founder and CEO of Skyecap - a private lender for small and medium businesses (SMEs) for loans ranging from $2,000 to $100,00. He was also a director of Skyecap between February 2024 and July 2025.
ASIC noted that Spira was also the founder and CEO of Pineapple Funding, a broker based in Sydney that specialised in providing access to capital to SMEs. He was the sole director of Pineapple Funding between February 2019 and July 2025.
Spira was arrested in May 2023 after attempting to leave Australia on a false UK passport, attempting to pay for chartered flights using stolen credit card details, and making false declarations in an Australian passport application.
It was alleged that he had intended to leave the country to head to Asia and fund an armed militia.
He had also been charged by Northern Territory Police with a range of offences, including possessing an unlicensed firearm and drug possession while on bail.
On 17 November 2023, Spira was convicted in the Northern Territory Local Court of numerous offences, including dishonestly obtaining a financial advantage by deception.
The court heard that Spira also had a drug dependency and was ordered to complete drug rehabilitation by the court.
He was sentenced to an 18-month good behaviour order and ordered to pay restitution.
Under the Corporations Act and the National Consumer Credit Protection Act, ASIC may permanently ban a person from the financial services and credit industries if they are convicted of fraud.
Given the conviction, ASIC has now permanently banned Spira from providing any financial services or engaging in any credit activities; controlling (whether alone or in concert with one or more other entities) an entity that carries on a financial services business or another person who engages in credit activities; and performing any function involved in the carrying on of a financial services or engaging in credit activities.
His bannings took effect on 19 November 2025.
However, Spira has the right to apply to the Administrative Review Tribunal for a review of ASIC’s decision.
Pineapple Funding has previously been in hot water with the Australian Communications and Media Authority after having breached the Spam Act by sending 175 texts offering pre-approvals and interest-free periods for business loans to business owners without their consent.
[Related: Former brokerage director sentenced to 12 months’ imprisonment]
