Michael De Campo would prefer a quiet retirement, but that choice vanished — along with half his superannuation funds — in a suspected Ponzi scheme.
Victims of an alleged $100 million Ponzi scheme have launched a series of test cases in the Supreme Court of Victoria in an effort to recoup their money.
defines Ponzi schemes as "investment scams or fraud that pay existing investors with funds collected from new investors" where "there is no real investment". Some estimates put the scale of losses at $100 million — more than four times the amount stolen by Sydney conwoman"I go from choosing to live modestly to having circumstances like that imposed upon me," Mr De Campo said.Mr Campo filed one of five writs on Monday that allege breaches of duty on the part of Mr Adams's partners at the firm.
Furthermore, the claim alleges Mr Maguire was "aware or ought to have been aware of safeguards under the Scheme and of the need to exercise reasonable skill and care" for investors.
John Adams Lawyer Melbourne Lawyer Supreme Court Ams Ivanhoe Lawyers
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