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|Showing 1 - 10 of 43 results for "Ponzi"|
|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 ...|
|... with 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 ...|
|... During 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 ...|
|... card debts, transferred it straight into Maureen Johnston's personal account and paid deposits in what ASIC labelled a "Ponzi-style" operation. When Maureen Johnston was sentenced, the presiding judge said Maureen Johnston was "intentionally dishonest ...|
|... to a 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 ...|
|... of fraud, while overseas regulators manage to see victims compensated. Telford pointed to the example of Bernie Madoff's Ponzi scheme - victims managed to recover 78% of losses thanks to the actions of US authorities. "That the financial cop on the beat ...|
|... report," the liquidator said. The report also contained findings that parts of Mayfair 101's business essentially operated as a Ponzi scheme. "It is my opinion that distributions and redemptions paid to M Core noteholders were funded out of funds raised ...|
|A man claiming to be a pastor in the US has been charged over a Ponzi scheme that targeted African immigrants, particularly those of faith. The US Securities and Exchange Commission (SEC) charged two companies based in Maryland for the scheme that allegedly ...|
|... be particularly wary of bitcoin and cryptocurrency schemes, saying she has seen many of these collapse and turn out to be Ponzi schemes. "I have seen so many scams in cryptocurrencies. I would honestly say, 'just don't go there'," she said. "A lot of ...|
|... that Mayfair 101's launch of Australian Property Bonds was a last ditch effort by the embattled wealth manager to set up a Ponzi-like scheme. ASIC expressed concerns that Mayfair 101 founder and managing director James Mawhinney's efforts to raise funds ...|
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Senator Jane Hume is allowing candidates who have failed the Financial Adviser Standards and Ethics Authority (FASEA) exam twice to re-sit it in 2022.
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The industry fund has appointed a general manager of brand and marketing.
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The government has passed legislation that will see the establishment of an independent body that will review the effectiveness of both the Australian Securities and Investments Commission (ASIC) and the Australian Prudential Regulation Authority (APRA).
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Westpac has decided to retain its New Zealand business after reviewing the feasibility of the 160-year-old division and the impact of increased capital requirements.
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