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Showing 271 - 280 of 792 results for "fraud"

Super funds raise scam concerns

HARRISON WORLEY  |  THURSDAY, 26 MAR 2020
... members gain early access to their superannuation savings to help them through the economic crisis brought about by COVID-19. "Fraud attempts based on the provision to access super early have already started to emerge," Intrust Super said. "Fraudsters ...

Industry funds face reality of COVID-19 shutdown

ELIZABETH MCARTHUR  |  WEDNESDAY, 25 MAR 2020
... administrators to implement. There is also a real and heightened level of risk around this early release scheme arising from identity fraud." While many retail stores currently remain open the impact of COVID-19 on the sector means Rest members are also ...

Former Toys "R" Us executives face fraud charges

ALLY SELBY  |  MONDAY, 16 MAR 2020
Former executives of the popular children's store lined their pockets with $26 million (US$16 million) in bonuses just days before filing for bankruptcy, including a $4.2 million (US$2.6 million) bonus awarded to chief executive David Brandon. This ...

Florida fraudster swindles investors out of $60 million

ALLY SELBY  |  WEDNESDAY, 11 MAR 2020
A Florida-based investment adviser scammed at least 30 investors out of $60 million (US$39 million), and put the funds straight into his own pocket. The Securities and Exchange Commission has frozen assets and obtained other emergency relief against ...

Wells Fargo coughs up $4.5 billion

ALLY SELBY  |  MONDAY, 24 FEB 2020
... sales goals and accompanying management pressure led thousands of its employees to engage in unlawful conduct - including fraud, identity theft and the falsification of bank records - and unethical practices to sell product of no or little value to the ...

Tax chiefs crack down on tax evasion

ELIZA BAVIN  |  FRIDAY, 21 FEB 2020
... strategic response to focus on those areas that cause the most impact," Day said. Simon York, chief and director of HMRC's Fraud Investigation Service said the introduction of automatic exchange of financial information between countries, registers of ...

Amish community scammed

ELIZABETH MCARTHUR  |  MONDAY, 3 FEB 2020
... scheme "a false sense of security". "Promises of guaranteed returns or investments without risk are classic warning signs of fraud," said associate regional director of the SEC's Philadelphia Regional Office Kelly Gibson. "It is important to learn as ...

ASIC bans former Godfrey Pembroke adviser

HARRISON WORLEY  |  THURSDAY, 30 JAN 2020
A financial adviser who recommended his clients invest in a start-up company which crumbled a year later has been banned from the financial services industry for six years. Adelaide-based financial adviser Adrian John Cassidy has been banned from providing ...

Ponzi scheme rakes in almost $1.5bn

HARRISON WORLEY  |  TUESDAY, 28 JAN 2020
... SEC's enforcement division said that while the Carpoffs' pitch to investors seemed new and innovative, their alleged fraud was "old and simple". "This case is a reminder that fraudsters often try to lure investors by associating themselves with trendy ...

Fraudulent adviser cops ban, jail time

ELIZABETH MCARTHUR  |  FRIDAY, 24 JAN 2020
A financial adviser from the NSW town of Valentine has been permanently banned for making false statements to clients and misappropriating funds. Nicholas Ellis was sentenced to three years in prison in October last year but has only now been permanently ...