Australian Crypto Laundering Crackdown: ASIC Charges Four Over $35M Fake Bond Scam
Main Idea
Four Australian men, including a former barrister, have been charged by ASIC for allegedly laundering $35 million through a fraudulent crypto investment scheme using fake prospectuses.
Key Points
1. ASIC charged four men, including Dimitrios Podaridis, for a $35 million crypto laundering scheme involving fake bonds offering fixed returns.
2. The scheme used high-quality fake prospectuses mimicking major financial institutions to attract investors.
3. ASIC has disabled over 10,000 malicious websites and processed 1,500 victim claims totaling $35.8 million in losses across 14 countries.
4. The Queensland Joint Organised Crime Taskforce executed 14 search warrants and identified $190 million in illicit funds processed by the scheme.
5. CertiK reported $2.2 billion in crypto losses in the first half of 2025, with wallet breaches and phishing scams accounting for the majority.
Description
Four Australian men, including former barrister Dimitrios Podaridis, are facing money laundering charges for allegedly facilitating sophisticated investment scams that converted victim funds into crypto between January and July 2021. The Australian Securities and Investments Commission alleg es the defendants operated fake investment comparison websites and Facebook advertisements to attract investors with fraudulent bonds offering fixed returns between 4.5% and 9.5% annually. Professional Docum...
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