Former neobank Xinja’s chief executive Eric Wilson has been disqualified from banking for eight years, following a lengthy regulatory investigation after the start-up failed and left thousands of Australians out of pocket.

The Australian Prudential Regulation Authority on Thursday said Wilson and former director Craig Swanger have been disqualified from acting as “accountable persons” of any bank for eight and 10 years respectively.

Former Xinja chief executive Eric Wilson has been disqualified from banking for eight years. Credit: Dean Richter

APRA deputy chair Margaret Cole said Wilson and Swanger failed to ensure the company had effective capital and were not “open constructive and co-operative” during the regulator’s long-running investigation.

“These were serious failures and

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