A Gold Coast cryptocurrency spruiker encouraged mum and dad investors to put their super into the volatile digital assets for more than five years without a financial licence, new documents allege.
Since 2018, NGS Crypto had promised investors in its cryptocurrency mining packages returns of between 6 and 16 per cent a year before the Australian Securities and Investments Commission (ASIC) secured freezing orders over the firm’s digital assets last month because it feared about $62 million invested was at risk of disappearing.
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Max Mason covers insolvency, courts, financial crime, cybercrime and corporate wrongdoing. A Walkley Award winner, Max’s journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
