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Vic brokers banned over $170 million fraud – 4 December 2018
Three Victorian mortgage brokers involved in a $170 million fraud have been permanently banned from providing financial services, for their role in creating and using false documents to support loan applications worth millions of dollars between 2008 and 2010.
Alleged tax fraud mastermind doesn’t know who owns his house, ‘can’t remember’ business details – 4 December 2018
In Federal court, dozens of witnesses gave evidence that Mr Whiteman controlled five businesses, that helped clients evade $100mil in tax. However Mr Whiteman claims he has Attention Deficit and Hyperactivity Disorder and could not remember details.
Floyd Mayweather, DJ Khaled hit with heavy fines in cryptocurrency crackdown – 30 November 2018
Celebrities Mayweather and DJ Khaled have both been charged by the Securities and Exchange Commission for failing to reveal they were being paid to promote initial coin offerings (ICOs) for cryptocurrencies to investors.
Investigation: How the Government is Punishing Bank Crimes with Tax Breaks – 30 November 2018
Article claims that ASIC would rather pursue Bank misconduct and corresponding law enforcement by “words” rather than prosecute or issue fines. The regulators arrange for the banks to: (1) recognise ASIC’s concerns without admitting wrongdoing; (2) accept a remediation process; and (3) make a tax deductible “Community Benefit Payment”.
