Accused Ponzi schemer Chris Marco has been hit with criminal charges after an investigation by the Australian Securities and Investments Commission found he defrauded $36.5 million from nine investors.
Forum Finance director Vince Tesoriero has been caught out for failing to declare over $150,000 to the court, as he took the stand to defend evidence given about his financial position in Westpac’s fraud case against him.
His property development empire was saved from liquidation, but Daniel Grollo is still being hounded by creditors, with Bank of Queensland suing the Grocon CEO for the outstanding balance on a $12 million home loan.
ANZ is optimistic its proposed $4.9 billion acquisition of insurer Suncorp’s banking unit will be cleared by the competition regulator, and is counting on the public benefits of the merger to win approval.
The sole director of personal lender ClearLoans has agreed to settle the first case the Australian Securities and Investments Commission brought related to the COVID-19 pandemic.
The finance arm of luxury car maker BMW has been given the greenlight to repossess a red 2019 Ferrari 488 Pista Coupe purchased by alleged fraudster Bill Papas’ defunct Forum Group.
A court has ordered a consultant at Kahlbetzer family investment vehicle Twynam Investments to pay a $30,000 judgment for allegedly breaching confidentiality obligations in her contract.
Online trading platform Trade360 will close shop at the end of the month, following an ASIC investigation that found its representatives at an offshore call centre provided personal advice to clients which the company was not licensed to give.
A judge has slammed a “grossly inflated” estimate of legal costs relied on during a security for costs bid by non-bank lender Aquamore Finance in an appeal over a commercial loan accruing compound interest of 79 per cent per year.
Bank of Queensland is the first bank to be caught for alleged breaches under the new Consumer Data Right scheme, paying a $133,200 penalty.