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Showing 61 - 70 of 249 results for "Victims"

Vanguard targeted in bond fund scam

KANIKA SOOD  |  WEDNESDAY, 31 MAR 2021
... identification and bank details, followed by in-person contact and provision of a fake Vanguard prospectus designed to convince victims to purchase non-existent investment products," Vanguard said in a statement. Previously Citi and IFM Investors had ...

AFCA chair under fire

ELIZABETH MCARTHUR  |  THURSDAY, 18 FEB 2021
... general meeting in November that she would not be seeking reappointment in May 2021. However, that's not enough for the Victims of Financial Fraud (VOFF) group, which is unsatisfied with Coonan's position at the authority. VOFF and its secretary ...

Ponzi schemer succeeds at appeal

ELIZABETH MCARTHUR  |  FRIDAY, 12 FEB 2021
... the presiding judge said Maureen Johnston was "intentionally dishonest and blatantly opportunistic" and noted that her victims included the couple's house cleaner and patient who Maureen Johnston met in hospital. The judge said one of the victims' ...

ASIC detects imposter bond scam

ANNABELLE DICKSON  |  THURSDAY, 28 JAN 2021
... expression of interest form via a third party or fake investment comparison website. Some of the scammers have been sending victims professional-looking fake prospectuses with unrealistically high returns and falsely claiming investor funds will be pooled ...

Asset managers want action on modern-day slavery

KARREN VERGARA  |  THURSDAY, 12 NOV 2020
... as a leading indicator of modern slavery," the letter read. The coalition estimates over 40 million people globally are victims of modern-day slavery, the majority (71%) of which are women and girls. More than 60% of victims live in the Asia Pacific. ...

Financial crime victims fume at Shipton, Crennan

ELIZABETH MCARTHUR  |  WEDNESDAY, 28 OCT 2020
The Victims of Financial Fraud (VOFF) group have written to senators slamming ASIC chair James Shipton for ignoring their requests for help but finding "time to submerge his own head in the trough allegedly at taxpayer expense". VOFF secretary John ...

Man arrested over investment scam

ANNABELLE DICKSON  |  FRIDAY, 16 OCT 2020
... form part of an alleged scam between May 2019 and October 2020. ASIC alleges the man obtained $370,000 from unsuspecting victims who believed they were investing in legitimate investment companies and created a number of websites and advertisements to ...

Manipulative trading at J.P. Morgan costs it over $1bn

ALLY SELBY  |  WEDNESDAY, 30 SEP 2020
... avoid losses," he said. "Today's resolution - which includes a significant criminal monetary penalty, compensation for victims, and requires J.P. Morgan to disgorge its unlawful gains - reflects the nature and seriousness of the bank's offenses ...

Watchdog warns of celebrity-endorsed bitcoin scams

ALLY SELBY  |  THURSDAY, 30 JUL 2020
... ('dump') their own share in the now-overvalued cryptocurrency. This causes its value to plummet, along with any hope for victims of recovering their initial investment." Those who believe they have fallen victim to a scam should contact their ...

New class action regulations slammed

ALLY SELBY  |  FRIDAY, 24 JUL 2020
... members, my concern is that it is likely to have the opposite effect," Morabito said. The changes could also result in victims of illegal conduct not being able to launch class actions due to a lack of funding in the Australian market, he argued. "Less ...