Martin Shkreli sentenced to 7 year jail for investor fraud

Martin Shkreli, who gained notoriety for dramatically increasing the price of a life-saving pill, has been sentenced to seven years in prison and a $US75,000($A105,000) fine for defrauding investors. US District Judge Kiyo Matsumoto set the sentence, which was significantly longer than the 12 to 18 month sentence Shkreli’s lawyers were seeking but still shorter…

CBA Faces Potential Class Action Following Money Laundering Allegations

The Commonwealth Bank faces what could be the largest shareholder class action suit over its disclosure of more than 53,000 alleged breaches of anti-money laundering laws. Maurice Blackburn Lawyers said it would investigate a potential class action on behalf of the bank’s investors, which comes after a sharp fall in its share price when the…

Forgery bank statements can be purchased for $6 on Dark Web

Cyber criminals are now selling Commonwealth Bank & Wespac forged documents on the dark web between $6 and $24, with payments being made with untraceable “bitcoin”. Promising world wide delivery within 24 hours, the documents are a means of accessing the nation’s financial services and banking systems, inclusive of the lucrative $2 trillion of superannuation…

Four Men Charged Over Insurance Fraud

Police have charged four men over fraud involving five insurance companies earlier this year. A man reported in March that his home had been burgled and items valued in excess of $700,000 had been stolen. Joondalup Detectives allege inquiries revealed inconsistencies in the man’s report and similar claims made with other insurance companies involving high…

Largest Scam Mail Seizure In WA

250,000 scam mail items will be destroyed today after Consumer Protection and Australia Post carried out a joint operation. More than 100 different kinds of scam were identified including fortune telling, dubious health products, lucky draw prices and fake scratch cards. The government has seized more than 346,000 scam letters so far this year, the…

Hand Written Note Brought Down NSW Premier

New South Wales Premier Barry O’Farrell announced his resignation after his hand written note contradicted his evidence at the ICAC Inquiry. His resignation comes just 12 months before the State Election in New South Wales. Yesterday, Mr O’Farrell denied he received a bottle of 1959 Grange from Nick Di Girolamo, the former CEO of Australian Water…