Ponzi scheme

Financial planning

Former Courtenay House director sentenced over Ponzi scheme

A former director of Sydney-based Courtenay House has been sentenced in the Supreme Court of NSW for his role in the operation of a Ponzi scheme....

Financial planning

How much did Melissa Caddick’s enforcement action cost the advice sector?

The actions of Sydney fraudster Melissa Caddick have resulted in heavy costs for the financial advice subsector, as the FAAA calls for costs of enforcement against unlice...

Financial planning

Why did ASIC ignore complaints about $180m Ponzi scheme?

ASIC has been rapped for ignoring multiple tip-offs about the $180 million Courtenay House Ponzi scheme, waiting four years to take regulatory action. ...

Financial planning

Melissa Caddick’s victims receive first payout

The victims of an alleged Ponzi scheme run by Sydney conwoman, Melissa Caddick, have received their first payout with further payouts expected....

Funds management

Morgan Stanley in crosshairs as Icahn losses mount

Morgan Stanley has joined Jefferies in being named as one of the banks that advised investors who have lost up to 40 per cent of their money in Carl Icahn’s NASDAQ-listed...

Financial planning

Former Courtenay House contractor sentenced over $180m Ponzi scheme

Athan Papoulias, former contractor to and promoter of Courtenay House investments, has been sentenced to two years’ imprisonment for his role in the Ponzi scheme....

Financial planning

Third individual charged in relation to Courtenay House misconduct

David Sipina has been charged with criminal offences relating to alleged misconduct at the Courtenay House group of companies....

Funds management

Provisional liquidators appointed to companies in suspected ‘Ponzi scheme’

Provisional liquidators have been appointed to wind up five companies suspected of operating a ‘Ponzi scheme’, in a case involving two of Australia’s biggest banks....