Australia – Page 2 – Financial Treason & Crime

Brian Taylor, 17 May 2021

An investigation being undertaken by the Serious Fraud Office (SFO) of the government of the United Kingdom may shed light on to what extent metals producer the GFG Alliance has been affected by the former Greensill Capital, or to what extent the two firms worked in tandem to create financial irregularities.

According to online reports from The Guardian and other U.K.-based media, the announcement by the SFO that it was looking into GFG “immediately caused the collapse of a rescue deal for Liberty Steel and raised fears over thousands of British jobs.” Continue reading “Article: GFG Alliance: Fraud investigation now looms”

05/17/2021

Article: Victorian Royal Commission into Crown Melbourne begins

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Victorian Royal Commission into Crown Melbourne begins

Peter Lynch, 17 May 2021

The Victorian Royal Commission into the suitability of Crown Resorts to hold a casino licence in Melbourne commenced today.

The commission revealed its first four witnesses as Timothy Bryant and Jason Cremona from the Victorian Commission for Gambling and Liquor Regulation (VCGLR), Dr Murray Lawson, director of Ethics and Risk Culture at accounting firm Deloitte Australia, and Nick Stokes, head of financial crime and money laundering reporting officer at Crown Resorts Limited.

Opening questions for Bryant and Cremona will focus on the VCGLR’s monitoring of the operator, its investigation into the arrests of 19 staff members in China in 2016, as well as junket operations. Continue reading “Article: Victorian Royal Commission into Crown Melbourne begins”

05/14/2021

Article: UK targets Gupta’s GFG Alliance in fraud probe linked to Greensill

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UK targets Gupta’s GFG Alliance in fraud probe linked to Greensill

Huw Jones, Eric Onstad, 14 May 2021

Tycoon Sanjeev Gupta’s commodities empire is being investigated by Britain’s Serious Fraud Office in a probe that encompasses the conglomerate’s links to collapsed lender Greensill Capital, the SFO said on Friday.

The probe piles pressure on Gupta, who has been scrambling to refinance his international web of businesses in steel, aluminium and energy after supply chain finance firm Greensill filed for insolvency in March. Continue reading “Article: UK targets Gupta’s GFG Alliance in fraud probe linked to Greensill”

05/04/2021

Article: RIP bank branches: Nearly 90% of Aussies say they won’t return

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RIP bank branches: Nearly 90% of Aussies say they won’t return

Anna Wall, 04 May 2021

During the pandemic, Australians were forced to use online banking over branches and, as a result, there has been a continuous string of banks shutting up their physical branches. Now, a new report suggests that 88 per cent of Aussies won’t care, as they’ve well and truly embraced the digital banking age. So is this the beginning of the end for bank branches?

The new research by GB Group (GBG) and Retail Finance Intelligence Pty Ltd (RFi) showed the majority of Australians are embracing the age of digital banking, with 88 per cent saying they won’t go back to their pre-pandemic branch usage. The report comes as many banks grapple with the decision to close branches across the country. Continue reading “Article: RIP bank branches: Nearly 90% of Aussies say they won’t return”

04/27/2021

Article: After WallStreetBets, Australia’s securities regulator warns share trading forums

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After WallStreetBets, Australia’s securities regulator warns share trading forums

Byron Kaye, 27 April 2021

SYDNEY (Reuters) – Australia’s securities regulator has contacted internet share trading forums to question them about policing of “pump and dump” scams on their platforms, a sign of growing scrutiny of an investment subculture that soared during pandemic lockdowns.

The Australian Securities and Investments Commission (ASIC) told Reuters it has boosted surveillance of local retail trading internet chatrooms that have sprung up since the “WallStreetBets” Reddit chatroom was linked to wild U.S. stock fluctuations this year.

That has led to discussions between the regulator several operators of the profanity, irony and meme-laden chat forums – who often operate anonymously – about their liability if they allow share inflation schemes to flourish. Continue reading “Article: After WallStreetBets, Australia’s securities regulator warns share trading forums”

04/23/202104/24/2021

Article: EVERY SINGLE OUNCE OF PHYSICAL SILVER HAS BEEN SOLD UP TO 1000 TIMES

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EVERY SINGLE OUNCE OF PHYSICAL SILVER HAS BEEN SOLD UP TO 1000 TIMES

Egon von Greyerz , 23 April 2021

The silver price is today half of the January 1980 level. That was the peak at $50 which silver reached again 31 years later in 2011. But alas, the bullion banks, aided by the BIS (Bank for International Settlement) and central banks have again managed to push it down again and today silver is only $26.10.

The current silver price has nothing to do with supply and demand. In a real market the Price of Silver would be substantially higher. In a fake market, the manipulators have no problem to suppress the price by selling virtually unlimited fake paper silver. Continue reading “Article: EVERY SINGLE OUNCE OF PHYSICAL SILVER HAS BEEN SOLD UP TO 1000 TIMES”

04/08/202104/09/2021

Article: LA-Based Actor Charged With Running $227 Million Ponzi Scheme

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LA-Based Actor Charged With Running $227 Million Ponzi Scheme

TYLER DURDEN, 08 April 2021

Zachary Horwitz, a little known LA-based actor, has been arrested by the FBI this week and was charged with running “an enormous ponzi scheme” wherein he represented that he had a successful film distribution company.

The reality was that the actor – who has had some roles in small films – was cheating his investors out of $227 million and using most of the money to fund his own lifestyle, according to the NY Post. Horwitz also “used investor funds to pay in cash for a $5.7 million home in Los Angeles’s Beverlywood neighborhood,” the Wall Street Journal added. Continue reading “Article: LA-Based Actor Charged With Running $227 Million Ponzi Scheme”

03/26/202103/31/2021

Article: ‘A harm-production factory’: Crown casino faces scrutiny over problem gambling

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‘A harm-production factory’: Crown casino faces scrutiny over problem gambling

Ben Butler, 26 March 2021

Triads, shopping bags full of cash, money laundering – if you’ve been following the inquiry into Crown Resorts run by New South Wales authorities, you might think there aren’t many allegations left to be hurled at the casino operator.

But a royal commission into the operation of the James Packer-controlled group’s flagship casino in Melbourne could expose it to fresh attack over a problem its critics have long claimed is rife at the complex: problem gambling.

Opening the inquiry on Wednesday, royal commissioner Ray Finkelstein said there was “no practical utility” in going over the same territory dealt with by the NSW inquiry, which reported to state parliament in February. Continue reading “Article: ‘A harm-production factory’: Crown casino faces scrutiny over problem gambling”

03/26/202105/19/2021

The Largest Fraud In The History Of Financial Markets

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The Largest Fraud In The History Of Financial Markets

As ordinary retail investors rush to acquire physical silver, they are not only “FOLLOWING THE MONEY” in the example of gold and silver grab by central banks, hedge funds, sovereign wealth & family office funds, and high-net worth investors, but also ON A MISSION to force the truth to come out.

John Adams, chief economist at Good As Gold Australia, returns to Liberty and Finance to announce the latest breaking updates in the PHYSICAL SILVER GRAB, which has become a cause and a mission of the little guys and gals to GET REAL, DEMAND TRUE MONEY, and DRAIN THE SWAMP.

Continue reading “The Largest Fraud In The History Of Financial Markets”

03/22/202103/22/2021

Article: Blackstone rolls the dice with $6.2 billion move on Australia’s Crown Resorts

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Blackstone rolls the dice with $6.2 billion move on Australia’s Crown Resorts

Byron Kaye, Rashmi Ashok, 22 March 2021

Crown shares leapt more than 20% after it disclosed the informal offer on Monday, passing Blackstone’s indicative price of A$11.85 as investors wagered a bigger payment could be in the offing from the world’s No. 1 private equity firm or another suitor.

“It’s nice to get a bid, and now it’s about price discovery,” said John Ayoub, a portfolio manager at Wilson Asset Management, which has Crown shares.

“These stocks are trading at trough earnings and I wouldn’t be surprised to see further activity in the sector.” Continue reading “Article: Blackstone rolls the dice with $6.2 billion move on Australia’s Crown Resorts”

03/12/202103/20/2021

Article: Australia’s banking regulator ends Westpac money laundering probe

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Australia’s banking regulator ends Westpac money laundering probe

Reuters Staff, 12 March 2021

(Reuters) – Australia’s banking regulator said on Friday it had closed the investigation against Westpac Banking Corp for possible breaches of anti-money laundering and counter-terrorism laws.

The bank was first accused of breaching the laws in 2019 by the country’s financial crime watchdog AUSTRAC, which led to parallel probes by corporate regulator ASIC and banking regulator Australian Prudential Regulation Authority (APRA).

In September last year, Westpac was forced to agree to a record A$1.3 billion ($1.01 billion) payment to settle AUSTRAC’s claims.

APRA said on Friday it had closed its investigation after considering the results of the probe by ASIC, which was closed in December last year.

“Although the investigation has not found evidence of breaches … APRA remains determined to ensure Westpac rectifies its risk governance weaknesses effectively and sustainably,” the APRA Deputy Chair John Lonsdale said.

In a separate statement, Westpac acknowledged APRA’s decision to end the probe.

($1 = 1.2844 Australian dollars)

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03/08/202103/18/2021

Article: Millions vanish into crypto world in high-yield bond scam

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Millions vanish into crypto world in high-yield bond scam

Michael Roddan and Jonathan Shapiro, 08 March 2021

Sophisticated British criminals exploited vulnerabilities in Australia’s search engine and cryptocurrency infrastructure to dupe small investors, lured by the promise of high-yield funds badged by some of the finance world’s most trusted brands.

The complex scheme involved stolen identities and fraudulent prospectuses that claimed to represent high-yield investment funds run by global managers Citibank, Nomura, and IFM Investors. It has ensnared millions from unsuspecting victims who sought better returns as interest rates collapsed during the COVID-19 crisis. Continue reading “Article: Millions vanish into crypto world in high-yield bond scam”

01/14/202103/20/2021

Alleged RCMP mole accused of selling secrets to kingpin money launderer and terror-financier’s network

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Alleged RCMP mole accused of selling secrets to kingpin money launderer and terror-financier’s network

Sam Cooper, Global News, 14 January 2021

In October 2014, Canadian intelligence leaders were invited to the U.S. Drug Enforcement Administration’s headquarters in Chantilly, Va. The DEA had a theory: the upper echelons of global money laundering, terrorism, drug-trafficking and organized crime all bleed together. And only a handful of men in this murky world of extremely powerful criminals had organizations capable of laundering more than $10 billion annually. Continue reading “Alleged RCMP mole accused of selling secrets to kingpin money launderer and terror-financier’s network”

10/02/201903/20/2021

Article: Collusion with Trump over Russia inquiry ‘did not happen’, says Raab

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Collusion with Trump over Russia inquiry ‘did not happen’, says Raab

Patrick Wintour, 02 October 2019

No member of the British government, including the prime minister, would ever collude with Donald Trump to try to discredit the work of intelligence agencies uncovering Russian interference in the 2016 US election, the UK foreign secretary said.

Dominic Raab told the Commons that “any such collusion is entirely unacceptable, would never happen, and did not happen”.

The foreign secretary refused to say at prime minister’s questions whether Boris Johnson, or his predecessor, Theresa May, had spoken to the US president about any request to cooperate with the inquiry he had ordered into how the US intelligence agencies handled claims that Russia colluded with the Trump presidential campaign in 2016.

The collusion claim led to the lengthy report by Robert Mueller, which showed that Russia was attempting to swing the presidential election in favour of Trump but did not say whether there had been collusion between Russia and Trump.

Raab was asked whether, as reported in the Times, Trump had personally contacted Johnson to ask him to cooperate with the US inquiry.

The Labour MP Ben Bradshaw implied that the purpose of any Trump request might be “to undermine or smear British intelligence services, as well as damage cooperation with their US colleagues”.

Raab, deputising for Johnson at prime minister’s questions, said: “Neither the prime minister or, as then, the foreign secretary, would collude in the way that he described. That is entirely unacceptable and would never happen and did not happen.”

It is noticeable that the British government has been less willing than either the Australian or Italian governments to give details of help given to Trump’s inquiry into the role of the US intelligence services.

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04/25/201803/13/2021

Article: Ex-UBS trader beats market manipulation charge

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Ex-UBS trader beats market manipulation charge

New York (AFP), 25 April 2018

Former UBS precious metals trader Andre Flotron was acquitted on Wednesday of market manipulation, a development that could spell trouble for similar cases against other Wall Street traders.

Authorities arrested Flotron late last year on charges he engaged in a Wall Street practice called “spoofing,” which involves placing and then immediately aborting trades to move prices. The acquittal follows January’s $46.6 million settlement with UBS, Deutsche Bank and HSBC over allegations traders at the banks worked to manipulate futures markets in precious metals between 2008 and early 2014.

Before this case, only three other people had ever been charged with “spoofing,” according to the Justice Department, a practice banned under the 2010 Dodd-Frank Wall Street reform legislation. Continue reading “Article: Ex-UBS trader beats market manipulation charge”