Immigration detention facility inmates accused of racket to defraud Medicare – 26 September 2025
Three detainees, including the brother of a Comanchero biker, were charged with COVID-era Medicare fraud. The story highlights how detainees used mobile phones inside facilities to scam government systems.
Access to digital version of Herald sun require to read article
Update after regulator freezes $11.5bn in funds at La Trobe Financial, leaving Aussies in dark – 28 September 2025
ASIC intervened in three financial products from La Trobe Financial, freezing about $11.5 billion in investor funds due to concerns that investment products were misrepresented, especially risk levels (private credit loans being marketed as safer than they are). Some parts have since been unfrozen; others remain suspended.
Westpac Sued Over Alleged Role in $250M Fraud – 28 September 2025
Westpac is facing a lawsuit filed by the liquidators of collapsed investment companies who claim the bank ignored red flags while large sums moved through accounts linked to a scheme run by businessman Chris Marco. The case, lodged in the Supreme Court of NSW, accuses Westpac of failing to prevent investor losses and continuing to process questionable transactions after inquiries were made by financial regulators.
https://theaussiecorporate.com/blogs/pickandscrollnews/westpac-sued-over-alleged-role-in-250m-fraud
Chinese woman convicted after ‘world’s biggest’ bitcoin seizure – 30 September 2025
A Chinese national has been convicted following an international fraud investigation which resulted in what’s believed to be the single largest cryptocurrency seizure in the world. The Metropolitan Police says it recovered 61,000 bitcoin worth more than £5bn ($6.7bn) in current prices. Between 2014 and 2017 Qian led a large-scale scam in China which involved cheating more than 128,000 victims and storing the stolen funds in bitcoin assets
https://www.bbc.com/news/articles/cy0415kk3rzo
ASIC to crack down on asset valuations after scathing super report – 30 September 2025
The corporate regulator has issued a scathing report card on the way the $4.3 trillion super industry and the country’s major auditing firms value unlisted assets, after it emerged that the nation’s second-largest super fund had written down a US investment worth almost half a billion dollars. The Australian Securities and Investments Commission’s first review of the sector’s financial reports and audits found super funds’ disclosure about non-listed assets was often inconsistent and unreliable, making it difficult for members to be confident about the value of their holdings.
Man’s savings wiped in $80m global investment scam – 30 September 2025
An IT director lost $120,000 through a scam involving cloned companies. Despite verifying through ASIC and Moneysmart, he was misled by a scheme where offshore entities and cloned advisers were used. He also lost another $60,000 in a linked scam. The fraud syndicate is allegedly global, with $80 million+ in losses worldwide, $25 million from Australians.
Police raid home of couple behind alleged $200m mining fraud – 1 October 2025
Tom and Kirsten Peever and associated entities are under investigation by the Australian Federal Police and ATO for allegedly claiming $200 million in R&D tax credits and GST refunds through Elution Metals and about 30 related companies. The case involves alleged misappropriation of funds which were supposedly spent on luxury items.
Access to digital version of The Australian required to read article
Alexander de St Amatus — Tax Fraud Scheme (Victoria / Queensland) – 2 October 2025
A 39-year-old man was sentenced for a tax fraud scheme. He falsely claimed $827,120 in business expenses on his 2016 tax return (as a sole trader) to obtain an improper refund of $18,771. Also avoided over $11,000 in tax debt. He pleaded guilty to obtaining a financial advantage by deception.
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Aussies Hit Again: ANZ Cops Record $240m Fine in Australia – 65,000 Impacted in Trust Breach – 1 October 2025
ANZ Bank will pay $240 million in fines after admitting to several big mistakes. The bank did many things wrong like sending wrong information about bond trading to the government. They also didn’t help customers who were having money problems and kept charging fees to accounts of people who had died.
https://supercarrides.com.au/anz-cops-record-240m-fine-in-australia-65000-impacted/
Victorian church under investigation after pastor’s son sexually assaulted teenager – 2 October 2025
Multiple investigations are examining a Victorian church’s response to child sexual offending committed by a senior pastor’s son. Joshua Emonson, 23, pleaded guilty to sexually assaulting a teenage girl in February. Emonson’s father has been suspended from his role as a pastor, pending an investigation into how the church handled the matter. He denies any wrongdoing.
https://www.abc.net.au/news/2025-10-02/encourage-church-romsey-under-investigation/105820656
ASIC bans former insurance broker Munther El-Alami for eight years – 2 October 2025
ASIC has banned Mr Munther El-Alami for a period of eight years from providing any financial services, controlling an entity that carries on a financial services business, and performing any function involved in the carrying on of a financial services business. ASIC found that Mr El-Alami did not comply with a financial services law by engaging in misleading or deceptive conduct by making misleading or false representations when submitting applications for life insurance policies on behalf of clients.
