Busting a $130m boiler room
Seven behind bars and one murdered but two with strong Australian links have walked free as a global scam fell over. Fairfax Media has the inside story on a spectacular trial.
Stock Ticker
- AGL AGL ENERGY LIMITED. 1.71%
- AIO ASCIANO LIMITED -0.33%
- AMC AMCOR LIMITED 1.83%
- AMP AMP LIMITED -0.69%
- ANZ AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED -5.21%
- APA APA GROUP 0.95%
- ASX ASX LIMITED -0.17%
- AZJ AURIZON HOLDINGS LIMITED 0.50%
- BHP BHP BILLITON LIMITED -3.41%
- BXB BRAMBLES LIMITED 1.07%
- CBA COMMONWEALTH BANK OF AUSTRALIA. -2.45%
- CCL COCA-COLA AMATIL LIMITED -0.80%
- CPU COMPUTERSHARE LIMITED. -0.41%
- CSL CSL LIMITED 1.56%
- CTX CALTEX AUSTRALIA LIMITED 0.45%
- DXS DEXUS PROPERTY GROUP 1.02%
- GMG GOODMAN GROUP 0.60%
- GPT GPT GROUP 0.61%
- IAG INSURANCE AUSTRALIA GROUP LIMITED -1.08%
- IPL INCITEC PIVOT LIMITED 0.61%
- JHX JAMES HARDIE INDUSTRIES PLC 0.34%
- LLC LENDLEASE GROUP -0.99%
- MGR MIRVAC GROUP -0.53%
- MPL MEDIBANK PRIVATE LIMITED 1.79%
- MQG MACQUARIE GROUP LIMITED -2.45%
- NAB NATIONAL AUSTRALIA BANK LIMITED -3.53%
- NCM NEWCREST MINING LIMITED -1.93%
- ORG ORIGIN ENERGY LIMITED 1.81%
- ORI ORICA LIMITED 0.06%
- OSH OIL SEARCH LIMITED -0.15%
- QAN QANTAS AIRWAYS LIMITED 0.00%
- QBE QBE INSURANCE GROUP LIMITED 0.28%
- RHC RAMSAY HEALTH CARE LIMITED 1.04%
- RIO RIO TINTO LIMITED -3.56%
- S32 SOUTH32 LIMITED 1.98%
- SCG SCENTRE GROUP -0.23%
- SEK SEEK LIMITED 1.16%
- SGP STOCKLAND 0.24%
- SHL SONIC HEALTHCARE LIMITED 3.52%
- STO SANTOS LIMITED 2.81%
- SUN SUNCORP GROUP LIMITED -0.67%
- SYD SYDNEY AIRPORT 1.52%
- TCL TRANSURBAN GROUP 0.90%
- TLS TELSTRA CORPORATION LIMITED. 0.19%
- VCX VICINITY CENTRES -0.95%
- WBC WESTPAC BANKING CORPORATION -4.58%
- WES WESFARMERS LIMITED 0.10%
- WFD WESTFIELD CORPORATION 0.80%
- WOW WOOLWORTHS LIMITED 0.31%
- WPL WOODSIDE PETROLEUM LIMITED -0.70%
Key Stories
'Fantasy' stock trading in ASIC sights
The corporate watchdog has warned online gaming companies offering fantasy stock trading they could be in breach of the law.
How Australia has fallen for Netflix
The threat to cable giant Foxtel is underlined in an exclusive poll.
Economy rests on Christian foundations
Religion sits at the heart of modern structures, even if most don't know it.
Facebook tells advertisers to forget 'social'
Concentrate, instead, on what has always made advertisements successful.
ANZ reveals home loan fraud
ANZ has compensated nine clients to the tune of $2.6 million without reporting it to the corporate regulator, the bank's own submission to an inquiry says.
Gorgon boosters' well-worn optimistic
The maiden cargo of natural gas from the gigantic Gorgon project off the coast of Western Australia set sail for Japan last week. After all the delays and the enormous costs blowouts it was quite a milestone.
- Markets An April Fool's Super Friday looms
- Banking and Finance Blockchain could blow away markets
- The Economy The radical ideas grabbing attention
- Property Why Neverland Ranch still isn't sold
- Workplace Relations Worker exploitation is a national disgrace
Market Indices
Last updated: March 25, 2016 - 6:05PM
Last updated: March 25, 2016 - 6:05PM
Last updated: March 25, 2016 - 6:05PM
Last updated: March 25, 2016 - 6:05PM
How Sony's VR is set to change the world
A Sony executive says the company's new virtual reality headset is more than a toy for video gamers.
In Depth
Robots may be welcomed in Japan
One of the minds behind Japan's Abenomics says robots may help solve some of Japan's most troubling problems.
Radical economic ideas grab attention
As traditional economic remedies prove ineffective some radical ideas are getting a hearing.
Bank shares hit on bad-debt fears
ANZ's warning of a $100 million lift in bad debts has sparked a vicious sell-off in bank shares.
Workplace
Why executives tremble when new CEOs arrive
Management trembles when a new CEO arrives, with "new broom" syndrome playing out in corporate Australia.
Job applicant foils robbery during interview
Standing out among job applicants is no easy task, but here's one way to ensure you won't be forgotten.
Markets
Trio's Flader flags comeback
After beating money laundering wrap, could this high-flier resume his career?
Tiny fruit fly sours Australia's big ambitions in agriculture
A tiny fruit fly is undermining Australia's efforts to grow its $3 billion fruit and vegetable exports, despite the country reaching a series of free trade agreements with its largest trading partners in Asia.
Yahoo investor presses for new board
Yahoo! investor Starboard Value nominated nine directors to replace the entire board at the struggling web portal, which it contends has been mismanaged by Marissa Mayer.
- US oil slumps on inventories, greenback
- Apple shares hit hedge fund performance
- Wall St flat as five-week rally loses steam
- Base metals slide as greenback advances
- Option positions foresee UK pound at 1980s low
- El-Erian says Brazil risks 'prolonged recession'
- Goldman tops commodities-revenue table
- European stocks extend slide on retailers
Emerging market currency support curbs bonds
Search Quotes & Charts
The Economy
No fresh set of eyes for small business, advisers say
When it comes to the way the Australian Taxation Office deals with small business taxpayers, its approach has been criticised.
We need 'ongoing' money to fight multinationals: Jordan
Tax Commissioner Chris Jordan hopes the May federal budget will include more money to fight multinational profit shifting.
Retail
Fight to stop the world running out of chocolate
We're eating more chocolate than ever before. But cocoa farmers are struggling to meet demand, and some are abandoning the crop altogether, worrying chocolate makers.
'Parents would be shocked'
Parents would be shocked to know the vast majority of products in the Australian market have not been tested to any safety standard.
Banking & Finance
Sydney bank worker charged with $500,000 fraud
A Sydney bank worker has been charged with fraud after allegedly stealing nearly half a million dollars from customers' accounts, police say.
Goldman tops commodities-revenue table
Goldman Sachs remained the largest bank by commodities revenue in 2015 in what was one of the worst years for investment firms in at least a decade.
Mining & Resources
Power price setting might need overhaul
The government might need to overhaul the way power prices are set, as the latest pricing decision in NSW is faced with further legal challenge, which has jeopardised planned price cuts while also threatening to delay the Baird government's power privatisation.
The heat is on as record temperatures spark fears for future
The recent spike in global temperatures have brought a two-degree warming world a bit closer, placing in sharper focus what needs to be done to avoid dangerous climate change.
World Business
Feared by workers, robots may be welcomed in Japan
One of the minds behind Japan's Abenomics says robots may help solve some of Japan's most troubling problems.
Sony's VR set to change the world
A Sony executive says the company's new virtual reality headset is more than a toy for video gamers.
China
No signs of a China rebound yet
China's monetary and fiscal stimulus have yet to spur a rebound in the world's second-largest economy.
What Trump gets right, and wrong, about China
If there is one thing Donald Trump seems sure about, it is that the US is getting a raw deal from China. Here's a reality check on his arguments.
Featured advertisers
Property Focus
Capital inflow to reach $US1 trillion for property
Survey respondents expect about $US1.16 trillion of capital targeting property investment in 2016.
Leasing deals in the shadow
The shadow of the Fishermans Bend rezoning and the looming sale of the 37-hectare Holden site is creating some uncertainty in the city-fringe industrial precinct of Port Melbourne.
DEXUS battle for Investa escalates
The battle for control of the listed Investa Office Fund has intensified with DEUXS Property applying to the Takeovers Panel to intervene and stop Morgan Stanley from voting at next month's meeting.
Swanson hotel at Erskineville on the market
Big impact awaited from new standards
New accounting standards are likely to affect how real estate deals are structured, experts say.
Executive Style
'Plus-size' men a skinny premise
Do men need to start obsessing about body size? We certainly do not.
Money
Buying shares? Check these numbers
No single metric is enough, but these four should help you narrow the field.
Straight talk on interest rates
The present low rates are the gift that keeps on giving, and borrowers have a once-in-a-lifetime chance to really make a dent in that mortgage.
Small Business
Welcome to the cash-free cafe
Saxon Wright's coffee business turns over $10 million a year but he's going cash free at his latest cafe opening in Brisbane.
The big price freeze
Is your business's price list stuck in a time warp?
Business Video
Animation: The Taxman's Trek
Watch the Commissioner of Taxation Chris Jordan's three year trek through the tricky terrain of the ATO.
- Duration
- 01:50
-
- Duration
- 01:07
-
- Duration
- 00:46
-
- Duration
- 05:11
-
- Duration
- 01:37
-
- Duration
- 00:58
-
- Duration
- 00:45
Comment & Analysis
Gorgon boosters use old, overly optimistic numbers
Contains:
This article contains a video.
Economy rests on Christian foundations
Contains:
Worker exploitation is a national disgrace
Contains:
This article contains a video.