Former Ninja Warrior contestant Espen Hjalmby introduces his followers to disgraced businessman Robert Tidy

A former Ninja Warrior contestant who rebranded himself as a life coach and social media influencer is in the limelight after dabbling in the world of wealth and finance.

Espen Hjalmby has recovered from two broken legs to wow audiences in the first season of Australian Ninja Warrior.

Now renaming himself Dr Espen, the licensed chiropractor dabbled in the world of finance with a series of videos posted to his 25,000 Facebook followers.

Espen Hjalmby. (A current affair)

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One of the videos, where he tells his followers their money is not safe in Australian banks, has been flagged as ‘misinformation’ by Facebook after an independent fact-check determined his detailed claims were not true.

The chiropractor also tells his legions of fans that they “might want to look into cryptocurrencies” while clarifying that he “does not give financial advice.”

But dozens of Hjalmby’s supporters lost significant sums after being introduced by him to disgraced businessman Robert Tidy.

Dan Nolan and A Current Affair reporter Espen Hjalmby. (A current affair)

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Tidy was the subject of a recent A topical matter investigation, after racking up multiple bankruptcies and failed cryptocurrency ventures that resulted in losses estimated at at least $18 million.

Tidy once listed Espen Hjalmby as part of the “team” for his latest failed venture called Z4Life.

Videos posted on social media show Hjalmby addressing his “Z family” at an event on the Gold Coast, where Tidy was the guest speaker to discuss his cryptocurrency plans.

Robert Tidy. (A current affair)

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Hjalmby is heard on the video saying that participants could “learn how to take their money to a whole new level and that’s what Z4Life, health and wealth is all about.”

In another video posted the next day, Hjalmby directly thanked Tidy for the “authenticity and heart-centered message” he provided.

Following this seminar, dozens of Hjalmby followers invested in the Z4Life project, which has now collapsed. Tidy informed them that there would be no refunds as their money was “spent”.

Robert Tidy once listed Espen Hjalmby as part of the “team” for his latest failed venture called Z4Life. (A current affair)

Hjalmby was entitled to receive commissions for any investors he brought to the project, but said A topical matter his company made a “net loss” from its involvement with Tidy.

The former Ninja Warrior contestant hosted a series of wealth seminars, with the latest charging nearly $4,000 per ticket to attend the three-day event.

When approached by A topical matter at that conference, Hjalmby said he was “very sad” that some of his supporters lost money, but declined to answer further questions.

He then provided answers to a series of questions through his lawyer explaining that a three-month association with Tidy had been terminated last March, due to “dissatisfaction and concerns” about how which it was working.

Espen Hjalmby. (A current affair)

“In early April 2022, Dr Espen Enterprises wrote to members of its community to advise them that Mr. Tidy’s offerings to the Dr Espen community had been completed,” the statement read.

He added that “Dr Espen and Dr Espen Enterprises do not provide financial advice to people and never have.”

Financial Planning Association of Australia CEO Sarah Abood said people should exercise caution when hearing anything remotely resembling financial advice on social media.

CEO of the Financial Planning Association of Australia Sarah Abood. (A current affair)

“If you take advice from someone on YouTube, someone on Instagram, someone on Tik Tok, you don’t actually know what you’re getting,” she said.

“The person may very well be fully qualified and able to advise you, or they may not be.”

People can check who is a registered financial advisor through ASIC’s Money Smart website.

An ASIC spokesperson also advised the regulator to “monitor the screening of online financial discussions by influencers who feature or promote financial products for any misleading or misleading representations or unlicensed financial services.”

“Persons who provide financial product advice or arrange for subscribers to transact a financial product may violate licensing requirements under the law,” the spokesperson said.

ASIC Statement

ASIC monitors screen online financial discussions by influencers who feature or promote financial products for any misleading or misleading representations or unlicensed financial services. Operating a financial services business without an AFS license is an offense under the Companies Act 2001 (Companies Act) unless you are authorized as a representative of an AFS licensee or if an exemption applies. The Corporations Act imposes significant penalties, including up to five years in prison for an individual and financial penalties of up to millions of dollars for a corporation.

Persons who provide advice on financial products or arrange for their subscribers to trade in a financial product may violate licensing requirements under the law.

Investing in crypto-assets is highly speculative and should be considered a high risk investment. Many crypto-assets and other digital assets are generally not considered financial products. For this reason, the platforms where you buy and sell cryptos may not be ASIC regulated. This means that you may not be protected if the platform goes down or is hacked.

Statement by Dr. Espen

Dr Espen Enterprises was founded in 2015 and has been operating successfully ever since.

Dr Espen and Dr Espen Enterprises do not provide financial advice to people and never have.

Our company briefly dealt, in good faith, with Robert Tidy from approximately January 2022 to March 2022.

Dr Espen Enterprises ordered Mr Tidy to stop marketing to his community and terminated all association with him, in early March 2022,

In early April 2022, Dr Espen Enterprises wrote to members of its community to inform them that Mr. Tidy’s offers to the Dr Espen community had been completed.

Dr. Espen Enterprises realized a net loss from its brief involvement with Mr. Tidy. Dr Espen Enterprises is seeking advice from its lawyers on its legal action against Robert Tidy.

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