The latest issue of Financial Standard now available as an e-newspaper

READ NOW

Regulatory

SEC seeks to shut down $450m Ponzi scheme

BY JAMIE WILLIAMSON | THURSDAY, 15 AUG 2024 12:54PM

The US regulator has filed charges over a $453 million Ponzi scheme that saw more than 2000 investors' retirement savings spent on luxury yachts, private jets and more.

Upgrade your subscription to access this article

And gain access to:

All website content, including archived news
Home page news customisation
Tech Zone, your technical resource library

And more

Already A Subscriber?

UPGRADE SUBSCRIPTION

VIEW COMMENTS

Related News

►	Former fund manager admits to obstructing SEC probe
►	Franklin Templeton's Western AM hit with US$100m penalty
►	SEC slams proxy adviser 'oligopoly,' urges AI use
►	Law firm eyes First Guardian, Shield class action
►	ASIC cancels licence of Brite Advisors
►	Clime awarded $183m mandate from US firm
►	New SEC chair affirmed, FCA chief reappointed
►	DWS fined $43m for greenwashing
►	Court approves Caddick SMSF class action settlement
►	SEC drops civil enforcement case against Coinbase

Editor's Choice

Brighter Super launches lifetime income product in accumulation phase

ELIZA BAVIN

The $38 billion super fund has teamed up with TAL to offer members a lifetime income product while still in the accumulation phase.

FinCap beefs up treasury capabilities

MATTHEW WAI

FinCap has welcomed a new member to help scale the firm's private markets managed accounts offering.

smartMonday tweaks fees, MySuper structure

MATTHEW WAI

The super fund is transforming its MySuper LifeCycle structure by shrinking nine options into four distinct categories, while making changes to its investment and administration fees

Former Berndale director jailed for $700k in misused funds

VINNY VUCAGO

Former Berndale Capital Securities director Stavro D'Amore has been sentenced to almost four years' imprisonment after admitting to dishonestly misusing nearly $700,000 of company funds and authorising false statements to ASIC.

Videos

Brought to you by

Calm in the chaos

MAX: Marketing, Advertising and Sales Excellence Awards | Highlights 2026

Reframing financial advice

Product showcase: A guaranteed future

MORE VIDEOS

Products

'Guide To' Series

Pocket investment guides featuring adviser case studies and a glossary.

MORE INFO

Publisher's Forum

Investing trends and strategies from the industry’s thought leaders.

MORE INFO

Product Showcases

Putting the spotlight on investment products that matter.

MORE INFO

Expert Feed

Christian Mueller-Glissmann

Head of Asset Allocation Research

Goldman Sachs

When geopolitics becomes a portfolio risk

Geopolitics is back - again - and Australian investors can no longer treat it as distant background noise.

READ MORE

Tania Milnes

General Manager Membership

Financial Advice Association Australia

Does association membership still matter?

With all the changes the advice sector has experienced in recent years, such as regulatory reform and increased education and professional standards ...

READ MORE

Effie Dimitropoulos

Chief executive

AUDD

Digital assets and where they stand in 2026

So far in 2026 digital assets have captured the headlines largely for the wrong reasons, but that doesn't tell the full story.

READ MORE

Jessica Sclafani

Global retirement strategist

T. Rowe Price

Rethinking default design in a changing market environment

The evolution underway in the US DC system highlights the value of periodically reassessing default design assumptions.

READ MORE

Industry Events

MORE INDUSTRY EVENTS

AUG

ASFA Investment Summit

Featured Profile

MORE PROFILES

Andrew Gregory

CHIEF ADVICE OFFICER
UNISUPER

After 25 years, Andrew Gregory remains motivated by the impact financial advice can have on Australians' lives. As UniSuper's chief advice officer, he is not slowing down on any of his current ambitions. Matthew Wai writes.

READ MORE