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Showing 51 - 59 of 59 results for "Ponzi"

Ponzi scheme operators plead guilty

LINDA HAUSKEN  |  TUESDAY, 12 JUN 2012
Brian Wood and Jimmy Truong have pleaded guilty in the Downing Centre Local Court, in Sydney, to operating a Ponzi scheme called the Integrity Plus Fund. According to ASIC, between December 2004 and December 2007 the Integrity Plus scheme raised in ...

Westpoint directors face charges

ELISE BURGESS  |  MONDAY, 4 JUL 2011
... Investments Commission (ASIC), which alleges the two parties breached their duties under the Corporations Act. Westpoint was a Ponzi scheme where investor funds where used to pay their interest. Around 3,500 investors invested a total of $304 million ...

Chartwell dir Hoy jailed 13 yrs

ELISE BURGESS  |  THURSDAY, 24 MAR 2011
Failed Ponzi-scheme Chartwell Enterprises director, Graeme Hoy, sentenced to 13 years and nine months imprisonment after pleading guilty to 44 deception charges totalling almost $22 million. Hoy originally faced 148 counts of obtaining a financial advantage ...

Ponzi scheme operator jailed

ELISE BURGESS  |  FRIDAY, 28 JAN 2011
... which occurred between 2004 and 2006, involved Bucello repaying the investors with their own money, as per usual with a ponzi scheme, and depending on new funds being invested to meet the promised interest payments. VFBS collapsed in June 2006 with Bucello ...

ASIC targets alleged Ponzi scheme

ASIC RELEASE  |  WEDNESDAY, 14 APR 2010
... $14.6 million in assets of four men from Victoria and Western Australia, due to concerns about the possible operation of a Ponzi-style scheme. The orders are against Peter van de Steeg, Jonathan Ezzy, Peter Berlowitz (all of Victoria) and Scott Walker ...

Select looks to sign on six dealer groups

RUTH LIEW  |  MONDAY, 22 MAR 2010
... statement, the Select CPS has been in development since March last year. The increasing awareness among advisers burnt by ponzi scheme Astarra's collapse, along with the losses from hedge fund investments and too much exposure to equities, have helped ...

Ponzi scheme operator admits guilt

ASIC RELEASE  |  WEDNESDAY, 3 MAR 2010
Ponzi scheme operator Hazel Bernice Bucello yesterday pleaded guilty to six counts of deception which cost investors over $2.5 million, following an investigation by ASIC. Bucello was the sole director of loan and mortgage broking business Victorian ...

Prescriptive regulation is not the answer: Tanner

MICHAEL HOBBS  |  TUESDAY, 14 JUL 2009
... want to emphasise that global co-ordination of regulatory reform is crucial - if we want to avoid the bubbles and excessive Ponzi schemes, the financial regulators have to be on the same page around the world," he said. Following Tanner's speech, Peter ...

ASIC winds up managed investment scheme

... investors even mortgaging their homes to invest in the scheme. ASIC states this is typical how many people become involved in 'Ponzi' schemes. Mercorella has consented to ASIC's orders banning him from no longer promoting or operating the managed investment ...
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