Australian Woman Receives Ten-Year Ban for $9.6 Million Crypto Scheme

An Australian woman has been handed a ten-year ban from providing financial services by the Australian Securities & Investments Commission (ASIC) for her involvement in a cryptocurrency scam totaling $9.6 million. The ASIC found the woman misled investors and illegally collected funds by making false promises of high returns. The conviction follows a thorough investigation lasting several months. This ruling serves as a stern warning against engaging in similar fraudulent activities. ASIC emphasized its strong commitment to protecting investors from fraudulent practices. The commission will continue to pursue other fraudulent activities and bring perpetrators to justice. The aim is to enhance trust in the Australian financial market and safeguard investor funds. Investors are cautioned to carefully vet any investment before committing.