The corporate watchdog has stepped in to stop the financiers of a tech start-up endorsed by cricketer Shane Warne and troubled former Australian basketballer Shane Heal from issuing shares to some investors.

The Australian Securities and Investments Commission issued a declaration on Friday to stop Gold Coast financier Darren Herft and a cohort of accountants from tipping mum and dad investors into tech company Kwickie.

Darren Herft (right) with Guvera founder Claes Loberg in happier times. Credit:Wayne Taylor

The intervention by ASIC comes as the regulator ramps up its investigation into Mr Herft's company AMMA Private Equity which is promoting the scheme.

Kwickie, an app that allows short video messages to be shared on mobiles, has grabbed headlines in recent months due to its links to the failed Gold Coast music streaming service Guvera.