10 stories this week:
Manhunt for alleged Bitcoin scammer who conned 400,000 people – 6 August 2021
A worldwide manhunt has been launched for a bitcoin scammer, Faruk Fatih Ozer (Founder of Thodex), who allegedly went on the run with $US2 billion. The alleged scam is thought to be the largest con in Turkish history, having scammed approx. 400,000 people – 6 August 2021
Further fraud charges laid against Canberra ECEC director – 6 August 2021
The former director of a Canberra based early childhood education and care (ECEC) service has received a further 80 fraud charges as the case, which sees her accused of defrauding the business of more than $375,000 unfolds. The director allegedly made payments from the service bank account into her own.https://thesector.com.au/2021/08/06/further-fraud-charges-laid-against-canberra-ecec-director/
https://thesector.com.au/2021/08/06/further-fraud-charges-laid-against-canberra-ecec-director/
Forum Group creditors claim to be owed $580M – 6 August 2021
Administrators appointed to the embattled Forum Group have revealed a lengthy list of at least 112 creditors that together claim to be owed more than $580 million by the company.
ttps://www.arnnet.com.au/article/690327/forum-group-creditors-claim-owed-580m/
Advisers banned over corporate breaches – 9 August 2021
ASIC has announced that Gold Coast-based advisers? Trent Allan and Fabrizio Urrutia? have? each? received a five-year ban for breaching financial services? laws. The duo are said to not be adequately trained or competent to provide financial services, including life insurance advice and did not comply with financial services laws.
https://www.insurancenews.com.au/life-insurance/advisers-banned-over-corporate-breaches
Ex-Tigers intern behind years-long fraud – 9 August 2021
Adam David Jones collected nearly $900,000 from an Illegal scam targeting retirement funds and businesses transactions. He infiltrated business records and anticipated when large transactions were to occur. He later targeted large sums stored in superannuation accounts.
https://7news.com.au/news/crime/ex-tigers-intern-behind-years-long-fraud-c-3636305
Pair deny $135k Tasmanian council fraud – 10 August 2021
A couple have faced court accused of defrauding a Tasmanian council to the tune of $135,000. Casey Maree Bryant, is facing more than a hundred charges in total, including counts of fraud, dishonestly acquiring a financial advantage and inserting false information as data.
https://thewest.com.au/news/crime/pair-deny-135k-tasmanian-council-fraud-c-3646612
Millions paid to directors: New details of Westpac’s Forum fraud emerge – 11 August 2021
Westpac has accused Bill Papas’ Forum Finance of forging signatures of staff at French giant Veolia’s New Zealand offices on faked contracts that extracted an additional $44 million from the bank. It is also alleged that Mazcon (Greek company), allegedly received $16 million as part of the allegedly fraudulent scheme and that Vince Tesoriero (Papa’s business partner), received $28 million in cash.
Internal controls lag in the face of transformation: KPMG – 11 August 2021
A new poll conducted by KPMG that surveyed nearly 300 respondents from across 100 organisations – financial risk managers, accountants, internal auditors and compliance managers among them – found that nearly half had yet to automate internal controls.
Aussies warned of fake Bitcoin trading websites as cryptocurrency scams increase – 12 August 2021
Aussies looking to invest in boom cryptocurrency Bitcoin are being warned to carefully check the credentials of their trading platform, after a spike in scams was detected. Consumers need to remember Bitcoin is unregulated.
Poly Network cryptocurrency hack sees hundreds of millions of dollars worth of Ethereum, other coins stolen – 12 August 2021
Hackers behind one of the biggest ever cryptocurrency heists, have returned more than a third of the $832 million in digital coins they stole, according to the company Poly Network, at the centre of the hack.
https://www.abc.net.au/news/2021-08-12/cryptocurrency-heist-hack-poly-network-ethereum/100372374
