11 stories this week:
Aussie crypto ‘fraud’ diverted ICO funds to African gold miners – 7 January 2022
Australian cryptocurrency entrepreneur Craig Sproule has been charged by the US corporate watchdog for defrauding investors by diverting millions from a digital coin offering to South African gold mining investments. Mr Sproule and two companies he founded – Crowd Machine Inc and Metavine Inc – have been charged with making materially false and misleading statements when selling digital asset securities
Record Amount Stolen By Crypto Scams in 2021 – 7 January 2022
Crypto-correlated crime reached a distressing new record in 2021. With an increase of around 80% from the previous year, scammers managed to abscond with a record $14 billion in cryptocurrency last year. Record Amount Stolen By Crypto Scams in 2021 (ibtimes.com.au)
https://www.ibtimes.com.au/record-amount-stolen-crypto-scams-2021-1782039
https://www.techradar.com/au/news/cryptocurrency-crime-hit-an-all-time-high-in-2021
Bill Papas’ cousin defends $720,000 in payments from alleged fraudster – 7 January 2022
The cousin of alleged fraudster Bill Papas has defended receiving $720,000 from the colourful soccer identity’s share trading account in breach of freezing orders, saying the transfers were to pay legal fees and loan repayments.
(Access to digital version of AFR required to read article.)
Know How Identity Theft Protection Services Industry May Double Its Market Size in Years to Come – 8 January 2022
The global Identity Theft Protection Services market report is a comprehensive study that encompasses top manufacturers, prospective market share, revenue, purchaser volume with respect to explaining the volume and global segmentation of the Identity Theft Protection Services industry. Access the report and find out more via this link.
Ousted James Hardie boss ‘blindsided’ by sacking – 10 January 2022
Ousted James Hardie chief executive Jack Truong states he was “blindsided” by his sacking last week following an investigation into claims of bullying, allegations he says he “unequivocally” rejects.
(Access to digital version of AFR required to read article.)
The ‘rug pull’: crypto investors lose $4b in new scam – 11 January 2022
Cryptocurrency investors lost almost $US3 billion ($4.2 billion) last year in an emerging scam known as the “rug pull”, where fraudsters lure investors into dodgy digital coins and run off with the proceeds.
(Access to digital version of AFR required to read article.)
After being convicted of fraud and conspiracy, Paul Manafort signs a deal for a book called “political prisoner.” – 10 January 2022
Paul Manafort the former chairman of Donald Trump’s campaign, was convicted of tax fraud and conspiracy charges and sentenced to seven years in prison. He is now writing a new memoir in which he calls himself a “political prisoner”.
Fresh development in alleged bitcoin conman Peter Foster’s case – 11 January 2022
Mr Foster is charged with multiple counts of fraud relating to an alleged multimillion dollar bitcoin scam. It is alleged he induced a man known as Konstantinos Stylianopolous to deliver digital currency and US currency bank credits, to a company known as Sports Predictions Trading. He has been charged with five counts of fraud, two counts of obtaining and dealing with identification information and one count of using a false record.
Australian Woman’s Fight to Prove Singapore Fraud – 12 January 2022
For six years, an Australian woman named Julie O’Connor has made many efforts to raise claims of fraud and what she calls a cover-up by powerful people over the acquisition of the Singapore and Vietnam assets of an Australia-based firm, Strategic Marine Pty Ltd. O’Connor says she has been vilified on social media and that her photographs have been doctored into news articles, which falsely showed her family members as being convicted paedophiles.
https://www.asiasentinel.com/p/australian-woman-fight-prove-singapore-fraud
Telstra Teams up With Aussie Banks To Block SIM Swaps and Porting Fraud – 13 January 2022
SIM swaps and porting fraud are on the rise, so, to counter this trend, Telstra is teaming up with Australian banks to try and block this precursor to identity theft and serious financial crime.
https://www.gizmodo.com.au/2022/01/telstra-sim-swap-porting-fraud/
John Hempton vows to target Australian frauds – 13 January 2022
John Hempton (co-owner and CIO of Bronte Capital Management Pty Ltd) believes Australia’s defamation laws – paired with an increase in investing activity by retail punters cashed-up with superannuation, and the Australian Securities and Investments Commission’s new habit of intimidating “completely honest short-sellers” – has resulted in an easy environment for “scammers” to sell “garbage” to mum and dad investors.
(Access to digital version of AFR required to read article.)
