13 stories this week:
Tax accountant James Redmond Burrows jailed for stealing to fund gambling addiction – 11 August 2023
Tasmanian tax accountant James Redmond Burrows stole money from 25 clients and the ATO by claiming dividends his clients weren’t entitled to, failing to pass on income tax returns, or retaining GST refunds for himself. Burrows will need to serve four years and three months of the sentence term before applying for parole.
FTX founder Sam Bankman-Fried headed for jail after US judge revokes bail – 11 August 2023
A US judge revoked Sam Bankman-Fried’s bail, after finding probable cause that the indicted founder of the bankrupt FTX cryptocurrency exchange tampered with witnesses at least twice. The decision could complicate Bankman-Fried’s efforts to prepare for trial, where the 31-year-old former billionaire faces charges of having stolen billions of dollars in FTX customer funds to plug losses at his Alameda Research hedge fund.
AFL Hawks racism report author facing fraud claim – 11 August 2023
Phil Egan, a former AFL player has faced court accused of defrauding a Victorian Aboriginal service of hundreds of thousands of dollars. Egan faced Melbourne Magistrates Court, charged with 73 offences including obtaining financial advantage by deception from the co-op, and using false documents. It’s alleged he secretly gained $779,000 through 52 supplier invoices paid by Murray Valley Aboriginal Co-operative.
https://au.news.yahoo.com/afl-hawks-racism-report-author-072208760.html
Cops crack alleged bank card fraud plot – 13 August 2023
Five foreign nationals have been charged over an alleged plot to install ATM card skimmers and create fake bank cards to swindle Australians out of their money. They allege the accused installed ATM skimmers to clone a person’s EBT card details and PINs, then at the beginning of each month they would re-encode the cloned bank cards to visit ATMs and withdraw the newly loaded funds. During a search, US authorities found a receipt for a consignment sent to Australia and tipped off the AFP.
https://au.sports.yahoo.com/cops-crack-alleged-bank-card-231900802.html
Australia’s Biggest Tax Fraud Is A $4.6-Billion TikTok-Driven Scheme – 14 August 2023
The Australian Tax Office (ATO) has accused influencers on TikTok of perpetuating the largest tax fraud in Australian history. The ATO has admitted paying out AUD$1.2 billion in fake GST claims, after a viral trend exploded on the platform in mid-2021. The scam involved submitting fake invoices worth up to hundreds of thousands of dollars in a bid to claim back refunds on GST.
https://thedeepdive.ca/australias-biggest-tax-fraud-is-a-4-6-billion-tiktok-driven-scheme/
SkyCity Adelaide Casino sets aside $45m to cover potential penalty, court case continues – 14 August 2023
The Australian Transaction Reports and Analysis Centre (AUSTRAC) launched Federal Court action against SkyCity in December, alleging systemic non-compliance with anti-money laundering and counter terrorism financing laws. AUSTRAC’s court documents stated SkyCity “failed to carry out due diligence on 124 customers” – a breach of laws that could result in fines of more than $2 billion. SkyCity says it has set aside $45 million to cover a potential penalty.
Trump indictment: Second set of charges arising from efforts to overturn the 2020 election results – as it happened – 15 August 2023
Donald Trump has been indicted following a Georgia prosecutor’s investigation into the former US president’s efforts to overturn his 2020 election loss in the state. The former US President insists he will release his own report into the so-called “election fraud” in Georgia.
Gina Rinehart trial shown explosive memo that allegedly tried to cut children’s inheritance – 16 August 2023
A WA court has heard that Gina Rinehart has deliberately deflated the value of mining shares in a family trust to the detriment of her own children’s inheritance. The 1994 memo forms a key part of allegations previously heard in the court that Mrs Rinehart engaged in “fraud” regarding the family trust, which had been created by her late father Lang Hancock. A lawyer for her two eldest children described it as “an egregious breach of duty” and said it was part of a ploy for her to get more Hancock Prospecting shares.
https://www.abc.net.au/news/2023-08-16/gina-rinehart-mining-trial-hope-downs-royalties/102737016
Cory Fleming, friend of murderer Alex Murdaugh, sentenced after stealing millions in insurance settlements – 16 August 2023
Cory Fleming has been sentenced to nearly four years in prison for scheming to steal millions of dollars in insurance settlements. He and his law firm made about $US675,000 over the settlement, which has since been paid back. Fleming is the second associate of Murdaugh sent to prison since investigators began scrutinising every aspect of his life in June 2021 after his wife and son were shot to death at their South Carolina home.
Ilze Stephens fined for helping son defraud Department of Defence through rent allowance payments – 16 August 2023
Ilze Stephens, a grandmother who helped her son defraud the Department of Defence of close to $100,000 appeared visibly relieved as she was told she would not spend any time behind bars. The charges relate to the 71-year-old nurse’s role in a scheme led by her son, former army major Travis Stephens, that saw him receive $91,705 in rent allowance payments, which he was not entitled to.
DoorDash hit with $2m fine by ACMA for breaching spam laws – 16 August 2023
Online food delivery service DoorDash has been slapped with a $2 million fine for breaching spam rules. An investigation by the Australian Communications and Media Authority (ACMA) found DoorDash sent more than 1 million texts and emails that breached spam regulations between February and October last year. DoorDash will now have to make regular reports to the watchdog.
https://www.abc.net.au/news/2023-08-16/doordash-issued-2m-fine-for-spam-texts/102735232
How scammers use phishing attacks to ‘socially engineer’ their way into your savings – 17 August 2023
Craig McDonald, founder of Australian cybersecurity firm MailGuard, says phishing has evolved into its own underground industry. Scammers recruit qualified coders and developers and support staff from across the globe, and offer 24/7 support for customers, because they’re selling a service at the end of the day, albeit an illegal one. The fake webpages will require victims to enter personal information such as bank account details or email passwords. This information is then used to access bank accounts, where the scammer can transfer money to themselves at will.
https://www.abc.net.au/news/2023-08-16/ing-bank-scams-phishing-refunds-consumers-afca/102732906
Sixth Sydney Man Charged in Million-Dollar Cyber Scam – 17 August 2023
The AFP has arrested and charged a sixth Chinese national living in Sydney as part of an investigation into an organised criminal syndicate, involved in a cyber-enabled investment scam, that has resulted in more than US$100 million in losses worldwide. Investigators will allege the highly-sophisticated scam involved the unlawful manipulation of legitimate electronic trading platforms, normally licensed to foreign exchange brokers who then provide the software to their clients.
https://www.miragenews.com/sixth-sydney-man-charged-in-million-dollar-1067097/
