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Showing 21 - 30 of 63 results for "Ponzi scheme"

Ascent Investment ordered into liquidation

KARREN VERGARA | WEDNESDAY, 26 APR 2023

... Court has ordered Ascent Investment and Coaching to be wound up following ASIC's investigation into a $149 million Ponzi scheme. ASIC froze the assets of Ascent and its director Michael Dunjey in late December 2021. Dunjey was also forced to surrender ...

Former Courtenay House director pleads guilty

CASSANDRA BALDINI | WEDNESDAY, 9 NOV 2022

Former Courtenay House Companies director Tony Iervasi has pleaded guilty to conducting a $180 million Ponzi scheme. Iervasi, who tricked 585 investors into falling for one of the nation's biggest Ponzi schemes, appeared yesterday in the Downing ...

Courtenay House director faces court for alleged fraud offences

CHLOE WALKER | WEDNESDAY, 1 DEC 2021

ASIC brings criminal charges against former Courtenay House director and contractor for an alleged $196 million Ponzi scheme. Tony Iervasi and Athan Papoulias have today appeared in the Downing Centre Local Court charged with criminal offences for their ...

Bond scam defrauds SMSFs $2.8m

KARREN VERGARA | MONDAY, 15 NOV 2021

A fake bond scam run has allegedly defrauded self-managed super fund members of $2.8 million. Richard Emil Ayoub, an American national, allegedly funnelled the money into Bitcoin between March and August 2021 after promoting it to investors as a fixed ...

Investment scams set to double

ANNABELLE DICKSON | TUESDAY, 24 AUG 2021

Australians have lost over $70 million to investment scams in the first half of 2021, a figure that is expected to double by the end of the year with increased reports of cryptocurrency scams, imposter bond scams and Ponzi schemes, according to the ...

Bernie Madoff dies in prison

ELIZABETH MCARTHUR | THURSDAY, 15 APR 2021

The architect of the largest Ponzi scheme in US history has died in prison aged 82. Bernie Madoff had been serving his sentence at FMC Butner, an administrative security federal medical centre for male offenders located in North Carolina, at the time ...

AFCA left toothless on Mayfair complaints

ELIZABETH MCARTHUR | MONDAY, 22 MAR 2021

... money raised from other M Core noteholders. During court proceedings, ASIC suggested this model was not far from a Ponzi scheme. ASIC could not comment on this issue as its action against Mayfair is ongoing. Consumer Action Law Centre chief executive ...

Mawhinney not dishonest, just irresponsible: ASIC

ELIZABETH MCARTHUR | FRIDAY, 12 MAR 2021

... the hearing, ASIC repeated its accusation that elements of Mayfair 101's business model were not dissimilar to a Ponzi scheme. The regulator alleged that funds raised from investors in Australian Property Bonds, the last product Mayfair launched, were ...

Ponzi schemer succeeds at appeal

ELIZABETH MCARTHUR | FRIDAY, 12 FEB 2021

A die-hard Collingwood Magpies fan who, with his wife, scammed friends they met through the football club of over $1 million, has had success at appeal. Douglas Johnston, together with his wife Maureen Johnston, were found by ASIC to have run a dodgy ...

ASIC winds up Mayfair 101 debenture issuer

ELIZABETH MCARTHUR | MONDAY, 1 FEB 2021

... lesser extent, from investors in unsecured debentures also promoted by Mayfair 101 - in a model not dissimilar to a Ponzi scheme. However, Mawhinney has aggressively defended the company against the Ponzi scheme allegations. "The Ponzi claims made against ...

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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