Fraud still rates as one of the highest threats to the public sector as
IFW’s Executive Chairman Ken Gamble and Investigations Coordinator Joshua Oastler presents an interesting case study on the growing problem of Ponzi scheme operations in Australia. The key offender behind the STC scam was identified as Peter Foster who disguised this fraud as a legitimate gambling operation. The average profits from these types frauds can range from USD $10 million to $100 million.
Often associated with
IFW was proactive in this case and was able to locate and freeze a large portion of the funds, around AUD $10 million dollars. A