Timber Hill scam raided on 60 Minutes

6o Minutes recently aired a segment that covered the investigation into and the raid on a group running several scams including the Timber Hill scam, which was a clone of a real business.

The investigation work leading to the raid and arrests was done by private investigator Ken Gamble and his company, IFW Global, in the Philippines.

The scammers also used Australian bank accounts to lure their victims into thinking their investment would be safe.

They reckon as much as 13 million AUD was scammed just in January this year alone.

They highlight how this is major financial fraud/crime and Australian authorities do extremely little to combat it.

More also at:
https://blog.ifwglobal.com/blog/32-arrested-in-boiler-room-raids-to-bring-down-international-crime-syndicate-targeting-australians

https://www.offshorealert.com/Forums.aspx?g=posts&t=58721

One thought on “Timber Hill scam raided on 60 Minutes

  1. Linda

    That was a great report. I was also pleased that 60 Minutes highlighted how disinterested Australian authorities are in relation to serious fraud/financial crimes. But then, many politicians and fat cat public servants in this hideously overgoverned country obliviously rob Australian taxpayers of millions of dollars every year to fund their lavish lifestyles and retirement funds, so why would they care?

    Reply

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