The following are articles relevant to the Professional Investigator. Click on the title to make a comment or join the conversation.
Investigation & Fraud News – Week ending 17 February 2023
10 stories this week:
CBA’s anti-fraud tech move has angered this start-up founder – 10 February 2023
Colin Porter, who set up PayOK in 2021 to target the growing number of payment redirection scams, says CBA’s launch of its own solution rather than adopting an industry one will make it harder to solve a problem costing Australian businesses more than $200 million a year.
SMS registry could block scams that cost Australians more than $1m a day – 12 February 2023
The Australian Communications and Media Authority, will explore the implementation of an SMS sender ID register that would block cyber criminals from sending texts, appearing to be from agencies such as the Australian Tax Office (ATO), myGov and Australia Post.
Former NSW Adviser Banned by ASIC Permanently – 13 February 2023
ASIC has permanently banned Sean John Sweeney of Lindfield, New South Wales, after he was convicted of fraud offences on 4 November 2022. Financial advisers must act with honesty and integrity in their dealings with clients.
https://www.miragenews.com/former-nsw-adviser-banned-by-asic-permanently-946115/
Federal MP’s offices to have Chinese surveillance cameras replaced – 14 February 2023
Officials have confirmed they are ripping out Chinese-made surveillance cameras in the offices of federal MPs across the country, due to fears that it contains spy-ware.
Aussie bank makes clever move to stop sneaky new text scam – 14 February 2023
NAB is now placing bank phone numbers on the ‘Do Not Originate’ list to help reduce scam calls impersonating NAB numbers. The bank has also added additional protections to reduce scam messages appearing in legitimate bank text message threads. This has already resulted in a 50 per cent reduction in these types of spoofing cases, leading to a 70 per cent reduction in customer losses.
Commonwealth spends more than $7.6 million in prosecuting whistleblowers including Bernard Collaery, David McBride and Richard Boyle – 14 February 2023
The Commonwealth has racked up more than $7.6 million in legal fees pursuing whistleblowers, with the bulk of that bill relating to a now-dumped prosecution. The case against Bernard Collaery and Witness K cost the Commonwealth $5,510,829. Whistleblowing advocates have criticised the government for pursuing David McBride and Richard Boyle and the NSW Greens senator David Shoebridge, said it was a “lavish use of taxpayer funds”.
The major areas ASIC is patrolling for offenders this year – 15 February 2023
ASIC is targeting predatory lending, shonky insurance price promises and firms lying about their green credentials, as the major areas it will look to prosecute offenders in the coming year.
Alleged Deloitte fraudster ‘used CEO’s name to lure investors’ – 16 February 2023
Investors who poured millions of dollars into a suspected fraudulent scheme run by ex-Deloitte partner Amberjit Endow, say he convinced them to join, by telling them the Australian boss of the consulting giant was among the senior staff who were early investors. Investors estimate the case could involve more than $60 million.
(Access to digital version of SMH required to read article.)
Watchdog won’t probe fraud allegations against Adani – 16 February 2023
Australia’s corporate regulator has decided not to pursue allegations of fraud and stock manipulation leveled against the Adani Group. ASIC took a close look at the report and found that only a small portion of the allegations related to the Indian company’s Australian operation.
https://au.news.yahoo.com/adani-dodges-asic-probe-based-035555556.html
ATO says millions in annual tax could have been lost due to PwC confidentiality breaches – 16 February 2023
A former PwC partner was recently sanctioned by the Tax Practitioners Board for integrity breaches, after it was revealed he shared confidential briefings with colleagues, despite signing three confidentiality agreements. The ATO has told a Senate estimates hearing, that when the new laws took effect in 2016, “within weeks” an avoidance scheme was being marketed to overseas-based clients of PwC to circumvent the new arrangements.
Investigation & Fraud News – Week ending 10 February 2023
11 stories this week:
Money laundering syndicate believed to be linked to crime boss George Marrogi is broken up – 3 February 2023
Victoria Police has charged 24 people with money laundering offences as part of an investigation into a large-scale Middle Eastern organised crime syndicate. The arrests follow a two-year investigation, believed to be linked to crime figure George Marrogi, who is currently serving a 32-year jail sentence for murder and recently pleaded guilty to running a drug syndicate from jail.
https://www.abc.net.au/news/2023-02-03/arrests-over-money-laundering-victoria/101925680
Activision Blizzard will pay $35 million to settle SEC charges over its handling of complaints – 3 February 2023
Activision Blizzard (video game company) will pay $35 million to settle charges from the Securities and Exchange Commision that it “failed to maintain disclosure controls and procedures to ensure that the company could assess whether its disclosures pertaining to its workforce were adequate.” The settlement also resolves charges that Activision Blizzard violated whistleblower protection regulations. The company is settling the charges without admitting to or denying them.
Papas fled Australia while pretending to be in Perth, court hears – 7 February 2023
Bill Papas, accused fraudster and alleged mastermind behind a $400 million bank fraud, told his banker he was on his way to Perth to deal with issues raised by Westpac, but was instead fleeing the country from Sydney, the Federal Court has heard.
Access to digital version of AFR required to read article
Australian bank admits botch-up, refunds prominent Kiwi entertainer A$30k after Herald investigation – 7 February 2023
A Sydney-based St George Bank recovered a third of a prominent Kiwi entertainers stolen money last year after learning of a fraud, but did not secure the cash and allowed it to be withdrawn by the thieves. The case raises questions about the Australian bank’s internal processes in dealing with fraud and recovering stolen money.
ClubsNSW settles case with terminally ill whistleblower Troy Stolz – 7 February 2023
Whistleblower Troy Stolz has announced his long-running legal battle with ClubsNSW has been “resolved” after reaching an out-of-court settlement.
It is not in the public interest to jail people for telling the truth. Labor must end these whistleblower cases – 8 February 2023
Kieren Pender discusses how Two Australian whistleblowers (David McBride, Richard Boyle) are expected to face trial later this year for speaking up about government wrongdoing. He says both cases are an injustice of the highest order. If either or both of these brave men go to jail for doing the right thing, for telling the truth, it will permanently cloud the Albanese government’s legacy.
Commonwealth offices ‘riddled’ with security cameras linked to Chinese government – 9 February 2023
An audit has uncovered more than 900 units of surveillance equipment built by companies linked to the Chinese government exist within Commonwealth government buildings, including Defence and Foreign Affairs offices. The Shadow Cyber Security Minister says the government needs a plan to remove them.
ICAC review of Batchelor Institute recommends ‘critical’ changes to corporate culture – 9 February 2023
The NT’s ICAC has audited the Batchelor Institute and found several financial anomalies, flawed governance, and corporate culture. The Batchelor Institute has accepted all 27 recommendations.
Whistleblower Jeff Morris labels integrity reforms hypocritical as government presses ahead with prosecutions – 9 February 2023
Jeff Morris, whose decision to lift the lid on corrupt practices within the CBA which in turn helped trigger the banking royal commission, stated in a public interest disclosure (PID) regime submission, that the changes need to go much further, with the creation of a “Whistleblower Protection Agency”.
Sydney man spared jail after ‘opportunistic’ Optus data blackmail attempt – 7 February 2023
Dennis Su, 20, sent text messages to 92 people in September after finding their information on a website that published data from the Optus breach. He has been spared jail but must complete 100 hours of community service.
https://www.abc.net.au/news/2023-02-07/sydney-man-spared-jail-optus-blackmail-attempt/101941596
Partygoers warned to beware of suspicious events when buying tickets online- 9 February 2023
The Cairns Show Association found out tickets were being sold for a music event at its showgrounds without its knowledge. Social media users are being warned to closely scrutinise all online promotions due to the prevalence of tickets being sold for fictitious or risky events.
Investigation & Fraud News – Week ending 3 February 2023
19 stories this week:
Elon Musk defends Twitter use in Tesla investors’ class action lawsuit over ‘funding secured’ tweet – 21 January 2023
Tesla chief executive Elon Musk has testified that investors do not always react to his Twitter messages as he expects, defending himself in a fraud trial over his 2018 tweet, that indicated he had secured funding to take the company private, something which did not end up taking place. Shareholders alleged that Mr Musk lied when he sent the tweet, costing investors millions. A jury of six men and three women will decide whether the tweet artificially inflated Tesla’s share price by playing up the status of funding for the deal, and if so, by how much.
Convicted Theranos CEO Elizabeth Holmes is a flight risk, US prosecutors say – 21 January 2023
Prosecutors say Elizabeth Holmes is a flight risk and shouldn’t be allowed to stay out of prison while she appeals her 11-year prison sentence for defrauding investors. She had purchased one-way plane ticket to Mexico three weeks after being convicted for fraud.
Government’s warning over ‘insidious’ scam targeting social media users – 23 January 2023
Australians are being urged to be on guard against an emerging social media scam that involves fraudsters impersonating staff from the Australian Tax Office. The phoney accounts send replies or direct messages offering to resolve the taxpayer’s issue. The scammer then tries to get the member of the public to click on a link in an attempt to access their money or private information.
Corporate Australia’s dirty hidden secret – 23 January 2023
Business crime may be endemic across big companies, and law enforcement is doing little to stop it.
https://www.afr.com/wealth/investing/corporate-australia-s-dirty-hidden-secret-20230119-p5cdxv
Access to digital version of AFR required to read fully article
Financial Planner Bradley Grimm Pleads Guilty to Fraud – 25 January 2023
Mr Bradley Grimm, a former Melbourne financial planner, pleaded guilty to three counts of engaging in dishonest conduct whilst running a financial services business. At the time of the offending, each breach of s1041G(1) of the Corporations Act carried a maximum penalty of 10 years imprisonment.
https://www.miragenews.com/financial-planner-bradley-grimm-pleads-guilty-934812/
Australia Warden Allegedly Steals from Inmates to Gamble, Could Land in Prison – 25 January 2023
Brenton Williams, a former general manager of a correctional facility in Adelaide, allegedly stole more than $100,000 from prisoners and then gambled it. The money is part of the funds inmates have to turn in when they report to the facility.
https://www.casino.org/news/jailor-in-australia-steals-from-inmates-to-gamble-could-land-in-jail/
Surge in online ‘sextortion scams over school holiday period – 29 January 2023
The ÁFP have warned there has been a surge in online financial ‘sextortion’ targeting young Australians over the school holiday period. Statistics from the Australian Centre to Counter Child Exploitation show overseas offenders were primarily targeting teenage boys, who make up 90 per cent of victim reports.
Bankman-Fried denies witness tampering claim – 29 January 2023
What to know about Sam Bankman-Fried, FTX’s embattled founder
Bankman-Fried, 30, has been free on $US250 million ($A352 million) bond since pleading not guilty to charges of fraud in the looting of billions of dollars from the now-bankrupt FTX. His lawyer insisted his client did not seek to influence a witness in the US government’s fraud case against him, accusing prosecutors of trying to portray him “in the worst possible light”.
https://www.perthnow.com.au/news/crime/us-prosecutors-sandbagged-bankman-fried-c-9587056
https://www.afr.com/markets/currencies/bankman-fried-denies-witness-tampering-claim-20230129-p5cg7p
https://abcnews.go.com/Business/sam-bankman-fried-ftxs-embattled-founder/story?id=93499631
Whistleblowing reform needs to be comprehensive – 30 January 2023
The Human Rights Law Centre, Griffith University’s Centre for Governance & Public Policy and Transparency International Australia have called for a comprehensive reform process to ensure stronger protections for Australian whistleblowers. The organisations welcomed the Government’s first, largely-technical phase of reform to the Public Interest Disclosure Act, which protects federal public servant whistleblowers, however the group expressed concern about the risks of a piecemeal approach to improving whistleblower protections.
https://www.hrlc.org.au/news/2023/1/30/whistleblowing-pid-act
Bunbury bookkeeper Kathleen Griffiths pleads guilty to stealing from local businesses – 30 January 2023
Kathleen Margaret Griffiths, a Bunbury bookkeeper pleads guilty to 16 charges of stealing $750,000 from two businesses over a decade. She used several tactics to conceal her offending. The affected business owners were placed under financial stress as a result.
Adam thought he was starting a new job, until he lost $28,000. What are recruitment scams and how are they targeting job seekers? – 30 January 2023
Scammers are pretending to be hiring on behalf of high-profile companies and online shopping platforms and impersonate well-known recruitment agencies. The scammer contacts you by email, letter or phone and offers you a job that requires very little effort for high returns, or a guaranteed way to make money quickly.
Hackers abuse legitimate remote monitoring and management tools in attacks – 30 January 2023
Security researchers warn that an increasing number of attackers are using legitimate remote monitoring and management (RMM) tools (ie.threat actors) in their attacks to achieve remote access and control over systems. These tools are commonly used by managed service providers (MSPs) and IT help desks so their presence on an organisation’s network and systems might not raise suspicion.
State government ready to make any changes recommended by review into Adelaide Casino – 31 January 2023
Former Supreme Court judge Brian Martin KC has been investigating the Adelaide SkyCity’s casino operator since July and will report to Liquor and Gambling Commissioner. It followed an 18-month investigation, with AUSTRAC alleging systemic failures in how SkyCity handled anti-money laundering and counter-terrorism financing laws.
William Knoll’s scammers made it sound like they were on his side – 31 January 2023
According to the consumer watchdog, the ACCC, there were more than 200,000 scams reported last year, costing Australians more than $568 million. 17 years old William Knoll, lost $5,000 when he was told scammers were accessing his money, but they were in fact the scammers! Mr Knoll said the person on the other end of the line sounded knowledgeable – and legitimate.
https://www.abc.net.au/news/2023-01-25/money-scams-bank-transfer-youths-targeted/101882730
Whistleblowers need their own agency, says Jeff Morris – 1 February 2023
When working for the Commonwealth Bank of Australia, Jeff Morris blew the whistle on “unbelievable practices” going on in the financial planning division. He says that protections for those who expose corruption are deficient, saying ‘it will ruin your life and we absolutely need fundamental whistleblower reforms’.
https://www.themandarin.com.au/210788-whistleblowers-need-their-own-agency-says-jeff-morris/
After a decade of decline, Australia is back on the rise in a global anti-corruption ranking – 1 February 2023
Australia ranked 13th out of 180 countries in the Transparency International’s annual Global Corruption Perceptions Index. This is up from a low of 18th last year. The index ranks countries on their perceived levels of public sector corruption – the higher the score, the less perceived corruption. Ranking 13th out of 180 is pretty good, but we have done better and the public expects better.
https://www.themandarin.com.au/210805-corruption-index-improvement-for-australias-public-service/
Adani pulls off $3.6b share sale despite fraud allegations – 1 February 2023
Indian energy giant Adani has survived its first major test following serious bullying, fraud & criminal allegations raised last month by US short-seller Hindenburg Research. Australian industry players, view the Hindenburg report as a “sophisticated activist hit job” that would not affect the Australian operations.
https://www.afr.com/companies/energy/adani-australia-hits-back-at-fraud-claims-20230127-p5cfx3
Ubank hacking: Man has $20k drained from bank account after details leaked by Optus, Medibank – 2 February 2023
A Brisbane man has had all his savings and his entire salary for January cleaned out of his account – leaving him with no money to pay off his car loan or credit card. He was caught up in both the Optus and Medibank identity theft hacking scandals – which saw millions of customers affected.
AFP money-laundering bust highlights Australia’s gaping real estate vulnerability – 3 February 2023
This week federal police arrested nine people and seized millions of dollars’ worth of Sydney homes, cryptocurrency and luxury items, crushing a syndicate it is alleging offered money laundering at an “industrial scale”. The AFP allege the syndicate acted as an unregulated multi-national bank, drawing on cash reserves in multiple countries around the world and facilitating transactions for criminal clients.
NT whistleblower provisions under review – 19 January 2023
The Northern Territory’s Independent Commissioner Against Corruption is to conduct a review of the region’s public sector whistleblower provisions amid concerns people are not reporting wrongdoing for fear of retaliation.
https://au.news.yahoo.com/nt-whistleblower-provisions-under-review-231513591.html
Investigation & Fraud News – Week ending 20 January 2023
27 stories this week:
Trading website IBC Exchange exposed as scam after QLD man loses $80k – 23 December 2022
An Australian explains how a group of online scammers coaxed him into giving away $80,000 via a fake cryptocurrency platform called IBC Exchange. He stated that “The sophistication was beyond belief and that the technology and layers of fraud they used was just incredible”.
Meta settles Cambridge Analytica class-action lawsuit for $725 million – 23 December 2022
Parent company Meta, has agreed to pay $725 million to settle a long-running class-action lawsuit accusing Facebook of allowing Cambridge Analytica and other third parties to access users’ private information. The settlement resolves user claims that Facebook violated federal and state laws, by allowing the company’s preferred vendors and partners to harvest their personal data without consent. It’s reportedly the largest ever in a US data privacy class action and the most Meta has ever paid to resolve a class-action lawsuit.
FTX founder Sam Bankman-Fried released on house arrest and ‘largest ever pre-trial bond – 23 December 2022
Sam Bankman-Fried has been released on a 375 million bond package while he awaits trial on fraud charges related to the collapse of the FTX crypto exchange. Prosecutors have accused him of stealing billions of dollars in FTX customer funds to plug losses at his hedge fund, Alameda Research.
https://www.abc.net.au/news/2022-12-23/sam-bankman-fried-ftx-founder-granted-bail/101803992
Inside Melbourne woman’s role in multimillion-dollar fraud syndicate – 25 December 2022
Young Melbourne mother Jasmine Vella-Arpaci has been sentenced for playing a central role in an international fraud syndicate which stole millions from victims’ superannuation accounts. She claimed she did this to support her husband’s gambling addiction. The process was to use stolen ID documents from the dark web, editing them as necessary to match one another, before using them to open bank accounts and to support applications to withdraw money from super accounts.
David McBride is ready to go to jail for his beliefs – 26 December 2022
Former defence lawyer David McBride is ready to go to jail with his “head held high” for exposing alleged war crimes in Afghanistan, but has called for the establishment of an independent federal authority to help others avoid the same fate. He stated that the reform was “absolutely needed” to support others wanting to lawfully report wrongdoing within their organisation.
How an Australian crypto exchange became a tool for scammers – 28 December 2022
Collapsed cryptocurrency exchange and brokerage Mine Digital, appears to have been a target for criminals exploiting the platform and lax regulation to rip off Australians through sophisticated investment scams.
Wage theft laws, offences and penalties in Australia – 29 December 2022
A Victorian business and its owner will be the first to face criminal wage theft charges, in any Australian jurisdiction. It is alleged that from July to November 2021, the Rehmat and Mehar Pty Ltd trading as ‘The Macedon Lounge’, dishonestly withheld wages, penalty rates and super from its former employees.
https://www.mondaq.com/australia/crime/1266114/wage-theft-laws-offences-and-penalties-in-australia
Inside the call centre scam that lured vulnerable workers to Cambodia and trapped them in the murky world of human trafficking – 29 December 2022
Thousands of vulnerable workers in South-East Asia who lost their jobs during the pandemic have been lured into job scams. They say they were made to work in a call centre, using dating apps on mobile phones to meet people looking for love. Once they had established online conversations, they were told to pass the people’s details on to a “chief” who would continue the chat and trick people into sending money for bogus investments.
Pair sentenced to collective 56 years prison for $8.75 billion Singapore share trading scam – 29 December 2022
A Malaysian businessman convicted of masterminding a stock scam that wiped 8.75 billion off Singapore’s exchange has been sentenced to 36 years in jail by a court in the city-state. John Soh Chee Wen and his girlfriend used their knowledge of financial markets to inflate share prices and set up dozens of trading accounts and borrowed large sums to manipulate stock prices.
https://www.abc.net.au/news/2022-12-29/singapore-share-trade-scammers-sentenced-to-prison/101813712
Global Investigation Review – Australia – 4 January 2023
Informative article covering Australian highest-profile corporate investigations; legal framework; law enforcement authorities; Cyber-related issues; Cross-border issues and foreign authorities; Economic sanctions enforcement and more
The fight to reclaim $1.8 million lost to an international investment scam – 7 January 2023
Article explains the “industrialised nature of scams”. Australians lose more money to investment scams than any other type of scam. Nearly $300 million was lost in the first nine months of 2022 – though with many Australians never reporting their losses, it’s likely the true cost is much higher.
Former Simon & Schuster employee pleads guilty to impersonating editors to steal unpublished books – 7 January 2023
A former employee of book publisher Simon & Schuster, has pleaded guilty to impersonating editors and agents, in order to steal more than 1,000 unpublished book manuscripts, belonging to authors like Margaret Atwood and the actor Ethan Hawke.
https://www.abc.net.au/news/2023-01-07/man-pleads-guilty-to-stealing-unpublished-books/101834612
Real Housewives of Salt Lake City star Jennifer Shah sentenced to prison for defrauding thousands of people – 7 January 2023
US reality TV star Jennifer Shah, known for her role on The Real Housewives of Salt Lake City, has been sentenced to six-and-a-half-years in prison for defrauding thousands of people in a telemarketing scam over nearly a decade.
https://www.abc.net.au/news/2023-01-07/real-housewives-jenifer-shah-prison-for-fraud/101834602
Trump executive Allen Weisselberg gets five-month jail sentence – 11 January 2023
Allen Weisselberg – a long-time executive for Donald Trump ‘s business empire – has been taken into custody to begin serving a five-month jail term for dodging taxes on $1.7 million in job perks. His testimony helped convict the former president’s company of tax fraud.
Perth teen loses nearly $40,000 in sophisticated bank scam – 12 January 2023
Aurora Casilli, lost $36,000 in an instant after receiving messages from a spoofed NAB number. The text looks legitimate and comes through on the same message thread as real NAB texts. It then prompts customers to call a number, and an allegedly fake operator then directs them to transfer money to a new “safe” account.
Australian Taxation Office scam sees Vageesh Potnis steal thousands of dollars from Australians – 13 January 2023
Vageesh Potnis, a Sydney man has avoided jail time, despite scamming vulnerable Aussies out of nearly $30k by pretending to be from the ATO.
Australian authorities say crypto is too often used for money laundering. – 14 January 2023
Senior executives of AUSTRAC claim crypto has become part of the “money laundering tool kit,” to commit money laundering and financial fraud. Article also discusses that ATMs are often the first method of converting crypto into cash so that illicit purchases and deals can be made.
Donald Trump’s company sentenced to pay $2.31 million penalty for tax fraud – 14 January 2023
A New York judge has sentenced Donald Trump’s namesake real estate company to pay a 2.31 million criminal penalty after it was convicted of scheming to defraud tax authorities for 15 years. Jurors found two Trump Organization affiliates guilty of 17 criminal charges. Prosecutors provided evidence that Mr Trump’s company covered personal expenses such as rent and car leases for executives without reporting them as income, and pretended that Christmas bonuses were non-employee compensation.
https://thewest.com.au/business/trump-org-to-be-sentenced-for-tax-fraud-c-9440476
ATO disqualifies hundreds over self-managed super scams – 15 January 2023
An ATO crackdown on people setting up self-managed superannuation funds to illegally access their retirement savings has prevented the withdrawal of hundreds of millions of dollars. Many have had to pay additional tax penalties and interest on those amounts illegally withdrawn.
Victims of bank Ponzi-like scheme in China unable to withdraw money from frozen accounts – 15 January 2023
Since April last year, at least 40 billion yuan ($8.5 billion) has been frozen in four of the small-sized banks. The four rural banks had promised customers high returns of between 13 and 18 per cent, in what has now been described as a Ponzi-like scheme. In August, authorities arrested 234 suspected bank scammers in connection to the case. Victims have been protesting as they have been unable to withdraw money for nine months.
https://www.abc.net.au/news/2023-01-15/demand-deposit-frozen-in-banks-china/101843356
Morley great-grandmother Dale Hambrook of her life savings – 15 January 2023
A Morley great-grandmother has been scammed out of nearly $150,000 after she was conned through an elaborate cryptocurrency scheme. The scheme used images and fake emails by the celebrity David ‘Kochie’ to con people.
Former Greek associate of Bill Papas denies involvement in fraud – 15 January 2023
One-time Greek business partner of Bill Papas Anastasios Giamouridis has denied any role in the alleged $500m fraud against banking institutions. According to the allegations he also received funds from the scheme.
JPMorgan says fintech was a fraud, closes business – 16 January 2023
JPMorgan has shuttered the financial planning fintech it acquired in 2021 and is suing its founder, claiming most of its users were fake accounts created to inflate the business’ value. In court documents, the bank claims the company paid a data scientist to use “synthetic data” techniques to create a list of 4.265 million “students” that did not exist.
Fraudsters jailed over international crypto scam – 18 January 2023
Four people have been jailed in the UK over a $37 million fraud carried out on an Australian cryptocurrency exchange (CoinSpot) five years ago. Stephen William Boys, Kelly Caton, Jordan Kane Robinson and James Austin-Beddoes were sentenced to a combined 15 years in prison over their involvement in a scam that “exploited a loophole” on the platform.
https://www.moneymag.com.au/fraudsters-jailed-over-international-crypto-scam
Fraud trial begins over Elon Musk’s 2018 Tesla tweet, which allegedly artificially affected stock price – 18 January 2023
A trial has begun over whether Elon Musk committed fraud with a 2018 tweet saying he was poised to take Tesla private. The tweets indicated Mr Musk had lined up the financing to take Tesla private at a time when the company’s stock was slumping amid production problems. The prospect of a 104 billion buyout fuelled a rally in the company’s stock price that abruptly ended a week later, after it became apparent that he did not have the funding to pull off the deal after all.
No bail for man accused of worldwide scam – 18 January 2023
One of four men charged over an alleged international investment scam has been refused bail over fears he could try to flee the country. It is alleged the four men were involved in a sophisticated scam using various social engineering techniques, including the use of dating sites, employment sites and messaging platforms, to gain victims’ trust.
https://www.perthnow.com.au/news/crime/no-bail-for-man-accused-of-worldwide-scam-c-9486058
NT whistleblower provisions under review – 19 January 2023
The Northern Territory’s Independent Commissioner Against Corruption is to conduct a review of the region’s public sector whistleblower provisions amid concerns people are not reporting wrongdoing for fear of retaliation.
https://au.news.yahoo.com/nt-whistleblower-provisions-under-review-231513591.html
