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

READ NOW

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

Antares winds up Ex-20 Aussie equities fund

KARREN VERGARA

The Antares Capital Partners' Ex-20 Australian Equities Fund has been terminated after a seven-year run.

J.P. Morgan launches active Aussie equity ETF

MATTHEW WAI

The asset manager has listed the J.P. Morgan Australia Equity Active ETF (ASX: JPOZ) on the ASX, targeting to provide long-term return from local companies.

First Sentier expands Northern Trust mandate

MATTHEW WAI

Northern Trust has once again expanded its service offering with First Sentier Group, this time for its First Sentier Investors Global Growth Funds.

Bell Financial Group profit surges 133%

VINNY VUCAGO

Bell Financial Group has reported a 133.3% increase in first half net profit after tax (NPAT) to $21.7 million, supported by stronger market conditions and increased trading activity.

Videos

Brought to you by

Product showcase: A guaranteed future

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

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

OCT

Featured Profile

MORE PROFILES

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