Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 291 - 300 of 806 results for "Fraud"

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 ...

Fraudster dyed hair, grew beard to evade regulator

ELIZABETH MCARTHUR  |  MONDAY, 20 JAN 2020
A man who was jailed over a hedge fund collapse dyed his hair and grew a beard in an attempt to go unrecognised as he launched a new bitcoin scheme. The US Securities and Exchange Commission charged Boaz Manor last week with raising over US $30 million ...

The Income Store closed for business

ELIZABETH MCARTHUR  |  WEDNESDAY, 15 JAN 2020
... his own mortgage and to send his children to expensive private schools. "Todays Growth Consultant and Courtright's alleged fraud promised a guaranteed return when the company's business model and financial condition could not possibly support it," ...

RBA crushes hopes of Libra launch

ALLY SELBY  |  FRIDAY, 10 JAN 2020
... Australia's developing digital economy. "In the finance sector, digital identity services could reduce the scope for identity fraud and provide convenient and secure methods for authenticating individuals, including as part of the rollout of 'open ...

Six charged in micro pump and dump scheme

ELIZABETH MCARTHUR  |  MONDAY, 6 JAN 2020
The US Securities and Exchange Commission announced that six people have been charged in an international microcap fraud scheme. The scheme allegedly generated $35 million of illegal sales of stock in at least 45 microcap companies. Those charged include ...

Radio host adviser revealed as alleged fraudster

ELIZABETH MCARTHUR  |  FRIDAY, 20 DEC 2019
... fully disclose all conflicts of interest." Springer is the second investment adviser turned radio host to be revealed as a fraud by the SEC in recent times. In August of this year former financial adviser Dawn Bennett was sentenced to 20 years in prison ...

What you read in 2019: Superannuation

JAMIE WILLIAMSON  |  FRIDAY, 20 DEC 2019
... an attractive new model for Australian super funds as consolidation sweeps the industry. 7. Major super funds caught in fraud scandal In September it was revealed several of Australia's largest superannuation funds were targeted by an online fraud syndicate ...