The Australian Securities and Investment Commission (ASIC) has acquitted four individuals accused of money laundering related to crypto scams.
Charges Against Four Individuals
Authorities reported that the accused committed offences between January and July 2021. The individuals – Dimitrios Podaridis, Bassilios Floropoulos, Peter Delis, and Harry Tsalikidis – allegedly facilitated scams targeting individual Australian investors.
Fraud Methods
ASIC alleged that the accused used fictitious investment websites and Facebook advertisements to lure investors, offering investments with fixed returns between 4.5% and 9.5% per annum. Victims would deposit funds into Australian bank accounts controlled by Delis, Floropoulos, and Podaridis, who then transferred the money to offshore accounts and crypto exchanges.
Rise of Investment Scams in Australia
According to Scamwatch, there has been a significant increase in investment scams in Australia, costing hundreds of millions in lost savings each year. In 2025, over 90,000 scam reports were recorded, with nearly half related to investment fraud schemes. AUSTRAC, the financial crimes watchdog, also raised concerns over crypto ATM scams targeting older Australians.
The resolution of the investigation and potential court proceedings highlight the urgency of addressing investment scams in Australia and the need for enhanced consumer protection measures.
