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Showing 571 - 580 of 794 results for "fraud"

Trustee fury prompts SMSF compo rethink

ALISON BEVEGE  |  FRIDAY, 15 APR 2011
... super fund association wants the law to be changed to allow compensation for their trustees as anger mounts over the Trio fraud case. Affected SMSF trustees are outraged that APRA-managed super fund members will be fully compensated while they get nothing ...

$55 million for Trio super fraud victims

ALISON BEVEGE  |  WEDNESDAY, 13 APR 2011
Victims of the Trio Capital superannuation fund fraud will receive $55 million in compensation from a special levy, the Federal Government announced today. Members of four super funds formerly under the trusteeship of Trio will recover all lost funds ...

Chartwell dir Hoy jailed 13 yrs

ELISE BURGESS  |  THURSDAY, 24 MAR 2011
... loan. Hoy is required to serve a minimum term of nine years. The judge presiding over the case called Hoy responsible for fraud on a grand scale and that he had been responsible for incalculable damage for vulnerable people. In August last year Hoy's ...

Super industry warned of hack attacks

ALISON BEVEGE  |  TUESDAY, 1 MAR 2011
One of Australia's top fraud cops has warned that the wealth-management industry is a sitting duck for cyber crime and must take steps to safeguard itself against future attack. Detective-Inspector Bruce van der Graaf of the NSW Police Fraud Squad shocked ...

Former adviser faces fraud charges

ASIC RELEASE  |  THURSDAY, 27 JAN 2011
A former financial adviser is facing charges, including fraudulently obtaining client funds, after an investigation by the Australian Securities and Investments Commission (ASIC). Alan Leslie Brown, of Lugarno, New South Wales, has appeared on a total ...

US manager charged with fraud

RUTH LIEW  |  WEDNESDAY, 19 JAN 2011
The US corporate watchdog has cracked down on a Long Island-based money manager for engaging in a fraudulent investment program, which cost investors $8 million in illicit commissions and fees. Warren Nadel, through his investment advisory firm Registered ...

Banc of America Securities charged with fraud

RUTH LIEW  |  MONDAY, 13 DEC 2010
US corporate watchdog SEC has charged Banc of America Securities with fraud for its part in an effort to rig bids relating to the investments of municipal securities. The bank has agreed to pay more than $36 million in disgorgement and interest to settle ...

Adviser sentenced to 8yrs imprisonment

ELISE BURGESS  |  FRIDAY, 29 OCT 2010
A former financial adviser receives a jail sentence after pleading guilty to 13 fraud charges following an ASIC investigation. Neil Francis Dodd was sentenced to eight years imprisonment in Townsville's District Court after an ASIC investigation concluded ...

Introducing foreclosure-gate, the latest risk to a US recovery

JOHN MCDULING  |  MONDAY, 11 OCT 2010
Recent court rulings have cast doubt on millions of mortgage foreclosures across the US, potentially reducing the value of investments held by Australian institutions in related assets. Court rulings across the country have found that millions of securitized ...

ATO tackles SMSF fraud risk

ELISE BURGESS  |  FRIDAY, 17 SEP 2010
... savings, as threats to SMSFs, one of the biggest segments in the superannuation industry, become more sophisticated. "The fraud that occurs happens when they get someone's name and address and set up a fund that doesn't really exist, they then roll the ...