It was the biggest listing in European history, coming in with a market valuation of $122 billion, and the scammers were looking to take advantage of the opportunity.
It was the biggest listing in European history, with a market valuation of $122 billion. When luxury car manufacturer Porsche went public by listing on the Frankfurt Stock Exchange on September 29, the development offered all the thrills that investment banks, market movers and sports car fanatics could want.
The problem was that BN Capital and Taylor – or rather, the criminal hiding behind that profile – are part of a sophisticated fraud operation that is stealing money from Australians and defrauding a real local business by using its Australian Business Number.The fraud includes highly professional websites, investment documents and correspondence that are used to trick people such as De Silva into transferring money from investments, which instead disappears.
“The payment was made in mid-September and we were alerted by the customer to the scam in early October. At that point, we contacted the recipient bank to request recovery of the payment but were advised that the funds had already been withdrawn.” The Australian domain is registered to what is believed to be a fake name – Norman Wisdom, an English actor who died a decade ago, and to an Australian Company Number of a Brisbane-based self-managed superannuation fund trustee, no members of which share that name. The registration details are suspected to be fraudulent.The websites appear to be clones of a legitimate English financial services firm, Fairstone.
The defrauding of De Silva, and the attempted defrauding of his partner, illustrate the gaps between law enforcement, banks and digital platforms that lead to millions of dollars being stolen from Australians every year.
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