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Criminals, allegedly including a Melbourne businessman and lawyer, are using sophisticated online tools and fake prospectuses to swindle millions of dollars.
Millions vanish into crypto world in high-yield bond scam Save Share Sophisticated British criminals exploited vulnerabilities in Australiaâs search engine and cryptocurrency infrastructure to dupe small investors, lured by the promise of high-yield funds badged by some of the finance worldâs 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 intere...
Date Time NAB announces agreement to acquire 86 400 to accelerate UBank growth National Australia Bank Limited (NAB) has entered into a scheme implementation agreement to acquire 100% of the shares in 86 400 Holdings Ltd, the holding company of Australian neobank, 86 400 (“86 400”). Founded by Cuscal Ltd and led by CEO Robert Bell, 86 400 has built and launched a mobile-led digital bank and was granted an ADI licence in July 2019. As at 15 January 2021, 86 400 had more than 85,000 customers, $375 million of deposits, $270 million in approved residential mortgages[1] and 2,500 accredited b...