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Dishonest SMSF dealings see Sydney woman jailed – 28 June 2018
A Sydney woman has been sentenced in the District Court of NSW after an ASIC investigation found she dishonestly appropriated money belonging to clients, including an SMSF (Self Managed Super Fund) and to funds she knew to be proceeds of crime.
https://www.smsfadviser.com/news/16692-sydney-woman-jailed-for-dishonest-smsf-dealings
Poker player folds and admits to $72 million Ponzi scheme – 26 June 2018
Bill Jordanou, formerly a professional poker player, finally admitted to his part in a $72 million Ponzi scheme. His co-accused, former Scoresby accountant Robert Zaia, also pleaded guilty to his part in the massive fraud, including siphoning about $26 million into his family trust. The scam left a trail of destruction that saw several clients of the accountancy firm lose their homes amid allegations Commonwealth Bank staff were complicit in the fraud.
Former Melbourne solicitor charged over $17.2 million fraud case – 25 June 2018
A former suburban solicitor (Hisam Mahmoud Sidaoui) has been charged with misappropriating $17 million over more than a decade from victims that included some of the country’s largest banks and his own clients. The allegedly falsified loans came from major financial institutions including the NAB, Commonwealth Bank and the Arab Bank, as well as private lenders.
China looks to bolster surveillance network with birdlike drones – 25 June 2018
More than 30 military and Chinese government agencies have deployed the birdlike drone. They are designed to fly by simulating the flight of a small bird — at least in appearance. They look like birds, have a wingspan of about 50 centimetres and can fly at speeds of up to 40km/h, according to the report. On board is a high-definition camera, GPS antenna, flight control system and data link with satellite communication capability.
