Four Men Charged in A$147M Investment Bond Scam Money Laundering Case

Four Melbourne men have been charged by the Australian Securities and Investments Commission (ASIC) for their alleged involvement in laundering money from a sophisticated investment bond scam. The accused—Dimitrios (James) Podaridis, Peter Delis, Bassilios (Bill) Floropoulos, and Harry Tsalikidis—allegedly facilitated the movement of scam proceeds through Australian bank accounts and cryptocurrency exchanges during the first half of 2021. The charges relate to multiple money laundering offenses under the Commonwealth Criminal Code, with Podaridis and Floropoulos each facing 28 charges, while Delis and Tsalikidis face eight and 12 charges, respectively [1].

The scam involved the use of fake investment comparison websites and Facebook advertisements to lure victims. Prospective investors were contacted by phone or email and shown professionally designed, counterfeit prospectuses that appeared to originate from legitimate financial institutions. These materials were crafted to closely resemble those of established firms, with high-quality formatting and branding. The fraudulent offerings promised fixed annual returns ranging from 4.5% to 9.5% over periods of one to ten years, which, while not overly high, were presented as stable and attractive [2].

Victim funds were allegedly deposited into Australian accounts controlled by the accused before being transferred offshore or converted into cryptocurrency. Although ASIC is not alleging that the men operated the scam itself, the regulator stated that they were reckless in handling funds it believes were proceeds of crime [3]. The case highlights the broader issue of investment scams in Australia, which have cost the public hundreds of millions of dollars in recent years. In 2025 alone, Scamwatch has recorded over 90,000 scam reports, with losses totaling approximately A$147 million. Nearly half of these reports involved investment fraud [4].

ASIC has intensified its enforcement actions in recent months, reflecting a growing concern over financial crimes in the digital space. This includes a crackdown on crypto ATM operators over money laundering risks and the prosecution of individuals like Brendan Gunn in March 2025 for alleged involvement in crypto-related fraud [5]. The regulator has also issued warnings to the public about the dangers of unsolicited investment offers, particularly those that promise guaranteed returns that seem too good to be true [6].

The case against the four men is set for a committal mention on October 30, 2025, where a magistrate will assess whether there is enough evidence to proceed to trial. The Commonwealth Director of Public Prosecutions has taken over the case following ASIC’s investigation and referral [1]. The prosecution’s focus on money laundering and crypto-related financial crimes indicates a broader strategy to address the growing threat of digital fraud in the Australian financial system.

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[1] https://example.com/melbourne-gang-funnel-bond-scam

[2] https://example.com/victorians-money-laundering-charges

[3] https://example.com/money-laundering-charges-asic

[4] https://example.com/asic-bond-scam-warning

[5] https://example.com/fortnum-private-wealth-proceedings

[6] https://example.com/asic-charges-prosecution-referral