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Showing 1 - 10 of 63 results for "Ponzi scheme"

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

... 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 Wei said the ...

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

... 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, Chapman said ...

Dimon 'cautiously pessimistic' on US economy

KARREN VERGARA | FRIDAY, 17 JAN 2025

... 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 currency ...

Court sentences Ponzi scheme promoter

KARREN VERGARA | MONDAY, 23 DEC 2024

... guilty to aiding and abetting Tony Iervasi, who was the director of Courtenay House that admitted to running it as a Ponzi scheme. Iervasi raised $180 million from 585 investors. Sipina managed to recruit 215 investors. He made a whopping $3.9 million ...

Settlement reached in Caddick class action

ELIZA BAVIN | MONDAY, 9 DEC 2024

... 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 to the ...

Former Courtenay House director sentenced

MATTHEW WAI | TUESDAY, 3 SEP 2024

Former Courtenay House director Tony Iervasi has been sentenced 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 ...

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

... 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, Mawhinney ...

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BT appoints new head of strategy

KARREN VERGARA

A former Allianz Retire+ executive has joined BT as the new head of strategy.

ASX sees trade volumes soar in May

MATTHEW WAI

ASX saw a substantial growth in trade volumes last month, despite continued lackluster movement in IPOs.

Otivo launches AI-powered financial advice

MATTHEW WAI

Otivo has launched a mobile app for Australians to access licensed advice powered by AI.

Munro expands access to climate focused fund

VINNY VUCAGO

The Munro Global Growth Climate Leaders PIE Fund has been opened to retail investors in New Zealand.

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