News and Analysis

The following are articles relevant to the Professional Investigator.   Click on the title to make a comment or join the conversation.



Court finds Dover Financial Advisers Pty Ltd made false, misleading or deceptive conduct – 27 November 2019

The Federal Court has found that Dover Financial Advisers Pty Ltd (Dover) and Dover’s sole director Terrence McMaster misled and deceived clients in contravention of their legal obligations. It was found that their Protection policy actually stripped clients of rights and consumer protections they had under the law.

Sydney businessman pleads guilty after millions allegedly swindled from the tax office – 26 November 2019

Simon Anquetil, who was one of nine people arrested in 2017, entered a guilty plea in the alleged Plutus Payroll tax evasion plot. This is one of the country’s most significant white-collar criminal investigations. Police seized vehicles, jewellery, artwork and aircraft as part of the investigation.

Lawyer laundered money as he wanted to make $US50 million by age 50 – 22 November 2019

Mark Scott was a high-flying lawyer before getting caught up in a massive cryptocurrency ‘OneCoin” scam that induced victims to invest. He has been accused of using a variety of shell companies, overseas bank accounts and dodgy investment funds to cover up the source of the $US400 million ($A588 million) he laundered.

Former Unique Estates founder Nicolette van Wijngaarden sentenced to more than three years jail for trust account fraud – 21 November 2019

Luxury real estate agency Unique Estates founder Nicolette Van Wijngaarden, has been sentenced to three years and six months in jail after pleading guilty to a $3.69 million trust account fraud. She was charged with 15 fraud offences, with the case being the largest crime of its kind in NSW.

ASIC releases whistleblower guidance ahead of implementation of new laws – 21 November 2019

The Australian Securities and Investments Commission (ASIC) has released guidance for upcoming changes to the Corporations Act that will require large proprietary and public companies to have whistleblower policies in place by 1 January 2020. The guidance includes a number of mandated items in addition to those required by legislation.

Comminsure to refund $12 million for unfair life insurance telephone sales – 19 November 2019

CommInsure has been hit with a $700,000 criminal penalty for breaching anti-hawking rules, but avoided a maximum penalty of $1.85 million by making an early guilty plea. The bank-owned insurer has also agreed to refund more than $12 million to 30,000 customers who were incorrectly sold a range of life products by Aegon.

ASIC disqualifies WA director from managing companies for five years – 15 November 2019

ASIC found that Ms Pellew (the director of several companies) had improperly used her corporate position to gain an advantage for herself. She also failed to prevent the companies from trading whilst potentially insolvent and did not ensure that proper financial records were kept and that the companies paid all relevant taxes.

WA Department of Communities assistant director general charged over $2.5 million fraud – 15 November 2019

The assistant director general of WA’s Department of Communities (Paul Whyte and another man) have been charged with allegedly stealing more than $2.5 million of public money in what could prove to be one of Australia’s most serious cases of public sector corruption. Police claim they raised false invoices and converted the money for their own use.$2.5m-fraud/11706170

Woman who allegedly cheated NAB out of tens of millions of dollars now facing extra fraud charges – 15 November 2019

Ms Rosamond is facing 74 charges of bribery and corruption. She allegedly bribed the NAB’s former chief of staff with luxury travel and renovations and secured lucrative contracts with NAB for her company. It is alleged Ms Rosamond’s invoices to NAB were as high as $3.3 million

Halting illegal cryptocurrency use the focus of major crime conference – 13 November 2019

One of the major focuses of the National Proceeds of Crime Conference being held in Brisbane this week, is cryptocurrency and tech savvy criminals who use the dark web, social media etc. Over the last 10 years the joint Criminal Asset Confiscation Taskforce has seized $435 million in criminal proceeds, some of which was in the form of various cryptocurrencies.

Australian Tax Sleuths Help Uncover More Cyber-Crims – 11 November 2019

Joint Chiefs of Global Tax Enforcement (known as the J5), which include tax officials from the US, UK, Australia, Canada and the Netherlands have identified dozens of potential cryptocurrency tax evaders or cybercriminals in a recent meeting. They shared data, tools and tax enforcement strategies in a bid to find new leads that could stop growing cross-border money-laundering, tax evasion and cybercrime.

ASIC bans West Australian finance broker and cancels Australian Credit Licence of Element Finance Group – 7 November 2019

ASIC has banned the director of Element Finance Group from engaging in credit activities. Mr Zheng had acted recklessly in providing false documents in support of four loan applications between September 2017 and February 2018.