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Man charged with fraud over alleged $400 million NDIS scam – 11 March 2021
A Victorian man, Demetrios ‘James’ Charisiou, who allegedly convinced two major Korean investment houses into investing $395 million in fake NDIS-related property deals has been charged with fraud. Police will allege the finance was purported to be for the purchase of Melbourne apartment buildings and their planned lease.
Queensland man jailed over Gumtree fraud – 2 March 2021
A man who forged bank transfer receipts to buy excavators and high-end cars worth more than $770,000 has been sentenced to seven years behind bars.
https://au.news.yahoo.com/queensland-man-jailed-over-gumtree-042142740.html
ASIC moves against REST on false and misleading charges – 2 March 2021
The regulator has announced the commencement of civil penalty proceedings in the Federal Court, against Retail Employees Superannuation Pty Ltd (REST), for false or misleading representations made about the ability of its members to transfer their superannuation, out of the Retail Employees Superannuation Trust (the fund).
More AUSTRAC bumper fines on the way, PwC warns – 2 March 2021
PwC’s financial crimes specialist Peter Forwood, says AUSTRAC-regulated entities should brace themselves for more billion-dollar fines, as eye-watering penalties now form a central part of the enforcement strategy.
(Access to digital version of AFR required.)
