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Provisional liquidator appointed to Macro Group companies

The Australian Securities and Investments Commission (ASIC) announced it has applied to the Federal Court of Australia for the appointment of a provisional liquidator to six companies within the Macro Group, all of which have Desiree Veronica Macpherson as a director. These are: Macro Realty Developments Pty Ltd; Macro Realty Developments AFSL Pty Ltd; Macro All State Investments and Securities Ltd; Pilbara Property Developments Pty Ltd; Macro Realty Pty Ltd, and 511 GTN Pty Ltd (under external administration since 14 April 2016). In particular, ASIC: alleges that the companies haveRead More

Jakarta Ponzi scheme

2011, the police arrested Jaya Komara who allegedly defrauded his clients in an investment scam. The scam itself began to surface when four of his alleged victims reported the scam to the police. According to the police, the total fund accumulated from what appears to be a Ponzi scheme is estimated to be around Rp 6 trillion (US$632 million). He is due for release in 2016 The fund was accumulated primarily through Jaya Komara’s cooperative-based organization, Koperasi Langit Biru (KLB) which was established in January 2011. As stated by theRead More