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Showing 131 - 140 of 511 results for %22Financial Fraud%22

Early release applications top $9bn

ELIZABETH MCARTHUR  |  THURSDAY, 7 MAY 2020
... likely extend beyond the five day period and we know that this will be frustrating for these members." Under the existing financial hardship provisions, Rest would typically receive about 100 applications per week. In the first week of the new early ...

ERS can be drawn from multiple funds: ATO

ELIZA BAVIN  |  THURSDAY, 16 APR 2020
... members to withdraw super from multiple funds. The ATO said while a member can only apply for one determination per financial year, they are able to request withdrawals from multiple funds so long as it is in the same application. This allows individuals ...

Super scammers pose as authorities

HARRISON WORLEY  |  FRIDAY, 27 MAR 2020
... looking to cash in on the early release of unaware Aussie's super has backfired, with one scammer copping an earful from a financial planner he tried to swindle. Fraudsters are posing as agents from superannuation authorities in an attempt to rip-off ...

Super funds raise scam concerns

HARRISON WORLEY  |  THURSDAY, 26 MAR 2020
... we've seen before with any early release super measure, there are unscrupulous operators who take advantage of people in financial hardship either through outright fraud in an attempt to steal their super or by offering unnecessary services for which ...

Industry funds face reality of COVID-19 shutdown

ELIZABETH MCARTHUR  |  WEDNESDAY, 25 MAR 2020
... likely to be eligible to access $10,000 from their super this year under the government's plan to assist those facing financial hardship as a result of COVID-19. Rainmaker analysis of APRA data shows 58% of Rest's membership are millennials. ...

Former Toys "R" Us executives face fraud charges

ALLY SELBY  |  MONDAY, 16 MAR 2020
... firms benefiting at the expense of others," TRU Trust attorney, Greg Dovel said. "The defendants prioritized their own financial well-being, as well as the financial wellbeing of three private equity companies, ahead of the company that they were entrusted ...

Florida fraudster swindles investors out of $60 million

ALLY SELBY  |  WEDNESDAY, 11 MAR 2020
... a purported hedge fund that they managed. Investors were made to believe that the fund invested solely in US-listed financial products and that at least 90% of the portfolio was hedged using listed options. In reality, Williams actually invested a significant ...

Wells Fargo coughs up $4.5 billion

ALLY SELBY  |  MONDAY, 24 FEB 2020
... unneeded, or unauthorized," it said. "According to the order, from 2002 to 2016, Wells Fargo opened millions of accounts of financial products that were unauthorized or fraudulent. "Wells Fargo's Community Bank also pressured customers to buy products ...

Tax chiefs crack down on tax evasion

ELIZA BAVIN  |  FRIDAY, 21 FEB 2020
... in Sydney to review their work in fighting against transnational tax crime, revealing recent action against a global financial institution. The Joint Chiefs of Global Tax Enforcement (J5) was formed in 2018 after a call from the OECD Taskforce on Tax ...

Amish community scammed

ELIZABETH MCARTHUR  |  MONDAY, 3 FEB 2020
... issued by Trickling Springs Creamery, a dairy business that he owned, without informing investors about the company's financial difficulties and mounting debt. In 2018, Trickling Springs Creamery was in "dire straits" according to the SEC and Riehl used ...

Editor's Choice

Early release of super scammers cop prison time

KARREN VERGARA
Three people will go to prison after pleading guilty to defrauding the COVID-19 early release of superannuation scheme for $103,500.

Super funds slash external mandates by 54%

KARREN VERGARA
The number of investment managers winning institutional mandates has tanked 54% in less than two years as superannuation funds ramp up the in-house management of assets, Rainmaker Information research reveals.

ASIC tells super funds to 'step it up'

ELIZA BAVIN
ASIC commissioner Simone Constant delivered a stern warning to super fund trustees.

Brookfield bids for majority stake in Neoen

ANDREW MCKEAN
Brookfield and its institutional partners have lobbed a bid to acquire a 53% majority stake in French renewable energy company Neoen.

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