13 stories this week:
SAPOL search uncovers stash of fake driver’s licences – 16 July 2021
An ongoing SA Police investigation into identity theft has seen four alleged offenders arrested after a search of a home uncovered more than 100 fake or stolen licences, health and bank cards, along with amounts of amphetamine and drug paraphernalia.
Bigwig in the big house: Ex-education boss jailed for school funds rorts – 16 July 2021
Former Education Department chief Nino Napoli, is in prison after being jailed this week after he and family members defrauded school funds in calculated rorting over a period of seven years. Napoli approved fake invoices and dodgy contracts totalling $500,000 by concealing his connections to relatives’ businesses, and either used department money or directed banker schools to pay invoices.
Are you ready for the Fraud & Corruption Control changes? – 16 July 2021
Adam Simms Partner, Forensic Services, was invited to be part of the review of the existing Standard and gives us insights into the new Australian Standard AS8001:2008 – Fraud & Corruption Control that was released on 11 June, 2021. This Standard is considered the benchmark when it comes to how organisations can mitigate fraud and corruption risks. This Standard is of particular importance to Boards, and importantly how they assess their cyber risks.
Revealed: Alleged Westpac fraudsters in multimillion-dollar property binge – 16 July 2021
The alleged $360 million fraud by Bill Papas’ Forum Finance against Westpac has been described by a judge as “a long-running, calculated and elaborate fraud which would rank high in the catalogue of corporate misfeasance”. The fraud is alleged to have been conducted between 2018 and 2021.
Whistleblower alerted Forum auditors to potential fraud
An internal whistleblower at the Forum Group of Companies emerged within two weeks of Westpac contacting Bill Papas about anomalies regarding a contract with corporate client WesTrac.
No AMP heads on pikes after ASIC drops criminal probe – 17 July 2021
ASIC drops criminal investigation into AMP’s fees for no services scandal after the Commonwealth Director of Public Prosecutions found the case should not be taken to court.
https://www.afr.com/companies/financial-services/asic-scraps-amp-criminal-action-20210716-p58a8p
(Access to digtal version of SMH/AFR required to read this article.)
Aussie crypto mogul fights extradition to the US – 17 July 2021
Australian bitcoin mogul Greg Dwyer is fighting extradition to the United States from his home in Bermuda even after his co-accused in one of the world’s biggest cryptocurrency scandals have presented themselves to US authorities.
(Access to digtal version of SMH required to read this article.)
ClubsNSW seeks court order to stop pokies whistleblower speaking to media – 17 July 2021
ClubsNSW is aiming to stop pokies whistleblower Troy Stolz talking to the media about a case the lobby group is mounting against him, in the federal court. The move is a dramatic escalation in the legal fight between the powerful lobby group and Troy Stolz, its former anti-money laundering and counter-terrorism financing manager.
Scamwatch: Remote access scams increase 184 per cent – 19 July 2021
So far this year scammers have stolen more than $7.2 million from Australians by gaining access to home computers, an increase of 184 per cent compared to the same period last year. Australian Community Media has compiled a list of current scams identified on sites such as scamwatch.gov.au, www.cyber.gov.au and the Australian Competition and Consumer Commission’s website dedicated to informing people about fraudulent and dishonest activities.
Ex-Young Rich Lister Craig Gore loses fraud appeal = 21 July 2021
Craig Gore, who once owned a race car team and shone briefly as a Gold Coast developer, had lawyers file an appeal against a verdict that found he had swindled investors in a debenture scheme. They included everyday Australians setting up self-managed superannuation funds.
A key event in the guilty verdict centred on evidence of Gore’s knowledge of the business having a substantial debt owed to the ATO.
(Digital version of AFR required to read article.)
Westpac accuses Forum and Papas of 100 frauds – 22 July 2021
The details of the extent of Mr Papas’s fraud were detailed in a statement of claim filed by the bank this week against Mr Papas, his business partner Vincenzo Tesoriero, Forum Finance and its related companies.
AMP sexual harassment victim left fuming from Boe Pahari’s $50m payout – 22 July 2021
A sexual harassment victim (Julia Szlakowski) is furious after Boe Pahari who allegedly made inappropriate advances and drove her out of the company is set to get a $50 million “golden parachute” payout.
Firms ‘face extinction’ for failing women – 22 July 2021
Ms Szlakowski has called on companies and investors to “conduct themselves within the moral and ethical norms of their customer base, or rightly risk extinction”.
