The company watch is working to regain up to $ 29 million worth of Bitcoin held in an encrypted device belonging to a Gold Coast barber shop owner suspected of orchestrating large-scale pension fraud.
The fraud investigation also implicated main sponsor CoinSpot of the AFL team Western Bulldogs.
ASIC claims Aryn Hala and Heidi Walters used the money they raised from their victims to buy bitcoin, a Tesla, a Ferrari, luxury goods, couture fashion, weight loss surgery and to make a large donation to their church.
CoinSpot is the cryptocurrency exchange that accused pension fraudster Aryn Hala is using to invest his allegedly ill-gotten gains.
The Australian Securities and Investments Commission (ASIC) has accused Mr Hala and his partner Heidi Walters and their firm A One Multi of defrauding 92 financially troubled Australians who wanted to dive into their super sooner than usual. Bank accounts show the couple’s company raised $ 25 million from investors. No criminal charges were filed.
ASIC claims that Mr. Hala and Ms. Walters used the money they raised from their victims to buy bitcoin, a Tesla, a Ferrari, luxury goods, couture fashion, weight loss surgery, and to make a large donation to their church .
ASIC called recipients from KPMG to search the jumble of Mr. Halas’ business and personal accounts and track down the Bitcoin fund. It has also won travel bans on Mr Hala and Ms Walters and the freezing of orders on their assets, including Tesla and Ferrari. The couple have hired attorneys to suggest they can contest ASIC’s allegations. Mr. Hala’s and Ms. Walters’ attorney said they would openly assist both ASIC and the recipients in their investigation, including providing all documentation, in the hopes that the investigation would be completed quickly.
However, tracking down Mr. Hala’s Bitcoin investments has proven to be a difficult task for regulators and has raised issues with regulatory controls at CoinSpot, which describes itself as one of Australia’s leading cryptocurrency exchanges.
According to court documents filed by the regulator in support of the freezing orders against the couple and their company, CoinSpot initially notified ASIC investigators that no records were kept of cryptocurrency accounts on behalf of Mr. Hala, Ms. Walters or A One Multi.
Aryn Hala is accused of scamming investors out of $ 25 million to fund the purchase of Bitcoin, a Tesla and a Ferrari.