From Sydney to the Caribbean via Dubai: How a CEO with possible terror links allegedly took millions – 20 October 2026
This investigative report examines the alleged investment scheme involving Main Group FX and its chief executive, Karim Farag. The investigation traces the scheme’s international connections, including addresses allegedly linked to Caribbean operations and questions surrounding the identity and background of people involved. The case raises concerns about how a business could appear legitimate to investors through its association with an Australian financial services licence.
https://www.abc.net.au/news/2026-10-20/main-group-fx-boss-with-possible-links-to-terrorism/107159102
Australian firm investigated over fears investors may have lost up to $138 million – 21 October 2026
ASIC is investigating Sydney-based financial services licence provider MGF Capital, now known as Trade Prime, over concerns about possible failures in due diligence, compliance and oversight. The investigation follows allegations that investors lost as much as $138 million through financial products offered by authorised representatives operating under the firm’s licence.
Former IT head accused of $8 million phone fraud at National Gallery of Victoria – 22 October 2026
A former head of IT at the National Gallery of Victoria, James Michael Hosking, has been charged over an alleged scheme involving approximately $8.45 million worth of mobile phones between 2019 and 2025. Court documents reportedly allege that he used the gallery’s account to order thousands of iPhones without the knowledge of other staff, then sold the devices for personal profit.
KPMG Australia faced scrutiny over government data-handling breach – 22 October 2026
Services Australia considered terminating its contract with KPMG after the firm transferred a sensitive draft audit report outside the agency’s secure environment. The incident raised concerns about contractual compliance, information security and corporate governance. The report says no actual data breach occurred.
Ban on KPMG getting government work extended to February after audit leaks scandal – 22 October 2026
The federal government has extended its ban on KPMG Australia bidding for new government contracts until 28 February 2027, following an independent review that identified serious ethical and cultural failings. The review examined the firm’s handling of allegations that senior staff misused confidential client information and mishandled a whistleblower’s complaint. KPMG has accepted the findings and must demonstrate meaningful improvements to its governance, ethics and accountability before regaining government work.
Colombia’s frontline anti-drug police unaware of new AFP international taskforce – 22 October 2026
Two Colombian police departments say they have no record of operational agreements, intelligence sharing or joint drug seizures involving a newly announced Australian Federal Police (AFP) anti-drug taskforce based in Bogotá. The AFP says the taskforce is not yet operational, despite an agreement signed in August. The findings raise questions about the initiative’s progress, accountability and use of public funding to combat international drug trafficking.
Adelaide mother banned from working as NDIS support worker after children removed from her care – 23 October 2026
An Adelaide woman who worked as an NDIS support worker for five years has failed to overturn a ban preventing her from working with children and people with disabilities. The South Australian Civil and Administrative Tribunal upheld the decision, citing longstanding concerns about neglect and emotional abuse involving her children, all of whom were removed from her care. Although no complaints had been made about her work with disability clients, the tribunal found she posed an unacceptable risk to children and a risk of harm to people with disabilities.
Pete and Heather lost over $1.2 million in retirement savings. They’re expecting just $150,000 in compensation – 23 October 2026
The collapse of the First Guardian investment fund has left thousands of Australians facing losses from their retirement savings, prompting scrutiny of compensation arrangements and the responsibilities of financial advisers and superannuation trustees. The report examines compensation linked to the collapse and the impact on affected investors, including Peter Spencer-Franks. ASIC continues to investigate alleged misconduct connected to the fund.
