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BEWARE: Man confesses losing $700,000 to a ‘clever’ con artist that left several Aussie families penniless
As we trudge on through the harsh reality that is living in the midst of an economic recession, it seems that heartless cybercriminals are only getting more ruthless with their manipulation.
One sophisticated British conman stole over $1.5 million from a handful of Australian families. Through a complex series of banking frauds, the victims were left poverty-stricken.
The swindler was suspected as the leader of a gang with up to 20 members. They fabricated the clever scheme, fleecing millions of dollars from the unwary.
The scammers are disguised as a genuine company. Using believable names and tax numbers, they lure victims in with elaborate and authentic-looking websites and contracts.
Even after conducting thorough research, the scam company appears completely legitimate. The ruse was only discovered after victims tried to recover their money and realised that it was all gone with little to no hope of a refund.
Beware, the scammer! Image Credit: Yahoo! News
Among the victims was Andy - a father of two - who detailed how he lost $700,000 to the British scammer. Meanwhile, an embarrassed accountant came forward about his own experience. He admitted that he was fooled and lost $160,000.
Both fell victim to the sales talk of the same fraudster, who hides behind a variety of names including Ben Davis, David Jones, and Oliver James.
He contacted them by phone after they found the gang's fake website, which appears to offer treasury bonds at a higher than normal interest rate return.
The website mimics an actual part of ANZ Bank's Capel Court investment division. It is so boldly deceptive that it even copied an official ACN number as well as financial services licence details that match with government records.
Andy felt reassured when he saw his initial investment of $150,000 in Commonwealth Bank Bonds show up in his online account on the fake website. The scammers kept in touch with him until he decided to order $550,000 of Swedish Treasury Bills three weeks later.
The father of two even recommended the scheme to his sister-in-law who was looking to invest $200,000. Fortunately, her bank red-flagged it as a possible scam and she was able to recover her cash in time.
“Even then, I was [still] very convinced that it was a genuine investment,” Andy said.
He started to realise that something was off when his dividend was late in appearing. He proceeded to report his concerns to his bank back in April.
After numerous phone calls, the scammers eventually paid a $1500 dividend. However, the transfer into his account only confirmed his latent concerns that he had been defrauded. He was expecting it to come from ANZ Bank or Capel Court, but it was sent by a company calling itself ‘Spacehansa’.
The scammers use genuine company names. Image Credit: Daily Mail
He raised the issue to the authorities two days later but it was already too late. His money had been syphoned off by the scammers.
“The bank said: ‘There’s no money to be recovered.’ and my heart literally sank.” Andy added.
Accountant Robert suffered a similar fate, despite bombarding the Brit conman with questions over the phone.
“I was asking fairly technical questions,” he revealed. “They knew the answers. I suspect they spent quality time in a financial institution.”
“It wasn’t just a shallow conversation, that’s what pulled me into that sense of security. It was really well thought out. It was quite a set-up.”
Robert invested $160,000 and watched it transfer successfully into his account on the fake website where it remained visible online.
As they usually do, the cyber criminals kept in contact with the accountant and even warned him that their office would be closed on a public holiday. This only further assured Robert of the fraudster’s front of legitimacy.
“I’ve got a finance background. I’m an accountant – that’s why this is a bit embarrassing,” he admitted.
But after stories about a family on the Central Coast who were fleeced for $500,000 by the same gang made the rounds online, the website suddenly vanished into thin air, along with all Robert's cash.
“I saw the article(s) and that's when I panicked,” he explained. “It makes me sick to my stomach.”
Maths teacher Jody Bridges and her landscaper husband Corey lost $500,000 after investing half of their profits from selling a home during the Covid property boom.
The couple worked hard to save money for their three young children, Tahnee, Ava and Isla – and Ms Bridges said discovering that she had been scammed was 'gut-wrenching'.
“We used to work five jobs between us,” she said. “I'm a school teacher and then I used to tutor students every afternoon. My husband has his own landscaping business and pretty much works 18 hour days, six days a week.”
Tearful Jody detailed her experience. Image Credit: A Current Affair
Jody added that she had done due diligence on the company, confirming Capel Court's ABN with the Australian Securities and Investment Commission. She then transferred four payments of $250,000 to an ANZ account associated with the scammers.
Two payments were recovered but the other two went through. By the time the bank tried to retrieve the further missing $500,000, the money had already been transferred to an untraceable bitcoin fund.
“I would never ever forgive myself… The guilt I have to live with. I could never work enough to ever repay that,” Ms Bridges said.
“I didn't come from a lot, I feel my job in life is to set my kids up, to be the best mum I can and to set my kids up for life.”
But Ms Bridges also shared her frustration with how the bank processed two massive payments to the scammers after stopping another two.
“I believe they [the bank] have been negligent in their duty of care. Nobody's hard-earned money should be gone with just the click of a button.”
The couple alerted the NSW police, their bank, ASIC, and the Australian Financial Complaints Authority about the scam but to no avail.
Three other separate victims came forward about a similar experience, but they luckily managed to put a stop to their transfers before losing their savings completely, worth $860,000 in total.
Unfortunately, another couple, Barhold and Antje Blecken, lost $200,000 to an identical type of scam last October. This particular scam revolved around a counterfeit Barclays Bank website.
Their contact was the same Brit who used the exact same mobile number that the conman used in the ANZ Bank scam as well.
The Bleckens' bank initially tried to block the transfer of their savings but Mr Blecken was certain that it was genuine and the bank complied.
“It was too late, the money was transferred, too late to recover,” said Mr Blecken. “Emotionally it was a bit hard. We both get the age pension now.”
ANZ refused to comment directly on the situation but emphasised the importance of customers being savvy, especially with large amounts of money.
“ANZ works hard to protect its customers from scams with a specialist team monitoring for unusual activity around the clock,” a spokesman said.
“We do not publicly comment on any specific customer details, however, we are aware of this latest bond scam, which is a particularly sophisticated operation that has unfortunately defrauded some people of their money.”
“ANZ is assisting NSW Police with its ongoing investigations into the matter.”
Among the best ways to avoid getting scammed is to stay aware of the recent schemes popping up and learn how to protect yourself from them. We also have a nifty e-Book that contains everything you need to know about Cyber Safety.
“Be suspicious of anyone offering you easy money. Scammers are skilled at convincing you that the investment is real, the returns are high and the risks are low. There's always a catch.” advised MoneySmart.gov.au.
What are some ways you protect yourself from fraudsters? Have you ever had a close encounter with scammers before? Share your stories with us in the comments!
Catch a glimpse of Jody and Corey Bridges’ story by watching the video below:
Video Credit: A Current Affair
