The Australian Securities and Investments Commission (ASIC) has charged four men, including a former barrister, for their roles in laundering funds from a fraudulent investment scheme. Between January and July 2021, Dimitrios (James) Podaridis, Peter Delis, Bassilios (Bill) Floropoulos, and Harry Tsalikidis allegedly moved money obtained from fake bond investments through Australian bank accounts to offshore accounts and converted it into cryptocurrency. Although ASIC does not claim the men ran the scam, they are accused of processing the illicit funds. This case highlights the ongoing issue of investment scams, which have cost Australians hundreds of millions each year. In 2025 alone, Scamwatch reported over 90,000 scams resulting in approximately $98 million in losses, with investment fraud as a principal contributor. The specific scheme lured victims with high-quality fake prospectuses and advertising through social media. The defendants face various charges under the Commonwealth Criminal Code, with a court mention scheduled for October 30, 2025.

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