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Showing 1 - 10 of 68 results for "Ponzi"

Guilty plea entered in Ponzi scheme case

JAMIE WILLIAMSON  |  TUESDAY, 5 AUG 2025
A man who carried on a financial services business without and AFSL and duped investors out of nearly $2 million has pleaded guilty to dishonest conduct and dealing with proceeds of crime. Ashley Arandez pleaded guilty to dishonest conduct, unlicensed ...

Law firm eyes First Guardian, Shield class action

ELIZA BAVIN  |  THURSDAY, 24 JUL 2025
... potential class action on behalf of investors in First Guardian Master Fund and Shield Master Fund for allegedly operating a Ponzi scheme with thousands of Australians' superannuation savings. Slater and Gordon principal lawyer in class actions Andy ...

Ascent Investment mastermind cops 33 criminal charges

KARREN VERGARA  |  MONDAY, 12 MAY 2025
Michael Dunjey, the mastermind behind a $149 million alleged Ponzi scheme, has been charged with 33 criminal offences. On May 9, the Perth Magistrates Court charged Dunjey, the director of Ascent Investment and Coaching, with 23 counts of fraud under ...

Court approves Caddick SMSF class action settlement

KARREN VERGARA  |  WEDNESDAY, 2 APR 2025
... Chapman told Financial Standard that this is a "fair and reasonable outcome" and an "exceptional" one given the context of the Ponzi scheme that fraudulent financial adviser Caddick ran. Combining the class action amount and receivership compensation ...

Dimon 'cautiously pessimistic' on US economy

KARREN VERGARA  |  FRIDAY, 17 JAN 2025
... It's social superiority, it's the 'my way or the highway.'" Assessing cryptocurrency, Dimon describes it as a "Ponzi scheme" and "as useless as a pet rock" but does not completely write it off. "We are going to have some kind of digital ...

Court sentences Ponzi scheme promoter

KARREN VERGARA  |  MONDAY, 23 DEC 2024
... The Federal Court has sentenced the promoter of Courtenay House for his involvement in one of the country's biggest Ponzi schemes. David Sipina was handed down three years' imprisonment to be served via an intensive correction order after pleading ...

Settlement reached in Caddick class action

ELIZA BAVIN  |  MONDAY, 9 DEC 2024
... don't anticipate any difficulties in that respect." Chapman said given the difficulties in receiving any money back from a Ponzi scheme, those involved in the action are very pleased. "It is an amazing result from a Ponzi scheme, and it's a credit ...

Former Courtenay House director sentenced

MATTHEW WAI  |  TUESDAY, 3 SEP 2024
... to prison for 11 years, with a non-parole period of seven years, for his involvement in one of the nation's biggest Ponzi schemes. Between 13 December 2010 and 21 April 2017, Iervasi raised around $180 million from about 580 investors, promising ...

SEC seeks to shut down $450m Ponzi scheme

JAMIE WILLIAMSON  |  THURSDAY, 15 AUG 2024
The US regulator has filed charges over a $453 million Ponzi scheme that saw more than 2000 investors' retirement savings spent on luxury yachts, private jets and more. The Securities and Exchange Commission (SEC) obtained a preliminary injunction ...

James Mawhinney arrested as Mayfair 101 saga rolls on

JAMIE WILLIAMSON  |  WEDNESDAY, 10 APR 2024
... been in a years-long battle with ASIC now, with the regulator taking him to court for operating what it believes to be a Ponzi scheme and Mawhinney fighting the claims and accusing ASIC of its own misconduct in pursuing him. In the latest instalment ...
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