Vincenzo Vocisano: Butcher turned fake forex trader admits to defrauding $9.4m

A Sydney butcher who masqueraded as a foreign exchange trader will be sentenced for orchestrating a scheme targeting ‘mum and dad’ style investors – defrauding 33 victims including a 78-year-old who lost over $3m.

Vincenzo Vocisano: Butcher turned fake forex trader admits to defrauding $9.4m

A Sydney butcher has admitted to orchestrating a scheme targeting ‘mum and dad’ investors and devastating the financial futures of 33 victims.

Vincenzo Vocisano, 42, pleaded guilty to 17 charges of dishonestly obtaining financial advantage in November last year, while posing as a foreign exchange (Forex) trader from January 2020 to July 2022.

At a recent appearance in Campbelltown District Court, his sentence hearing date was set for July 7.

The offence carries a maximum term of 10 years in prison.

Court documents reveal how the Oran Park butcher systematically deceived investors out of $9.4m, often including close friends and family, to fund a severe gambling addiction that saw him put $24.8m through online betting accounts.

The Oran Park butcher deceived investors to fund a severe gambling addiction that saw him squander $24.8 million on online betting accounts.

Vocisano convinced victims he was running a successful forex trading business, Triple Cross Investments, despite lacking any financial qualifications and being a butcher by trade.

He promised high returns on their investments, which clients would transfer to his personal account as unsecured “loans”.

Vocisano persuaded his second cousin to take out a loan against her home to add an additional $390,000 to her investment.

A forensic audit by NSW Police revealed he deposited over ten times the money into betting accounts than he put into actual trading platforms, gambling away $6m before withdrawing the rest.

Court documents defined the enterprise as a “classic Ponzi scheme,” with early investors receiving returns funded by new victims.

Vocisano’s victims were often long-time acquaintances who trusted him, including a 78-year-old family friend who invested $3.3m along with a 70-year-old woman, also a close friend, who invested $600,000.

He also targeted his family, convincing his second cousin to invest $25,000 in March 2021. He paid her $5000 interest for a year to help persuade her to take out a $390,000 loan against her home so he could help the mother make money for her family.

When investors began complaining about late interest payments the offender shifted blame onto ASIC, claiming they were withholding funds since he was changing forex trading platforms.

Others were enlisted to bring in new clients, including his next door neighbour Nathan Dureau who became his chief recruiter introducing 17 new clients for a five per cent finder’s fee.

However by June 2022, the scheme was collapsing and Dureau was regularly receiving client calls about late payments. When he confronted Vocisano he blamed ASIC, claiming they were withholding funds since he was changing forex platforms.

The next month he was bankrupt, with Dureau telling police he saw clients come to Vocisano’s house to try and find him.

Dureau has not been charged with any wrongdoing.

Court documents stated the offender’s sister went to Narellan police station in July to report safety concerns after Vocisano was allegedly assaulted over “failed investments.”

Vocisano faces a maximum of 10 years behind bars, with a sentence hearing set for July at Campbelltown District Court. Picture: NewsLocal

He attended the station with facial injuries, claiming he’d been assaulted by two people for reasons unrelated to his trading, and refused to make a witness statement.

The next day he returned and admitted to police the alleged incident was related to money.

His behaviour prompted police to investigate his forex activities, leading to many ex-clients coming forward.

Meanwhile, Vocisano had been secretly planning his escape to the Gold Coast, Queensland, according to court documents.

The NSW Police fraud unit identified 10 suspicious accounts with over $32m moved between them, including accounts under names of family members.

A warrant was issued for his arrest in March 2023, with suspicions he fled to Queensland. Vocisano’s run as a fugitive ended on May 8, 2023, when police caught him working at a restaurant on Hope Island.

In a recorded interview, he confessed to police that he had moved to “start a new life”, and that he “always knew this was gonna happen, don’t get me wrong”.

He also claimed to have cut contact with his family since August 2022 and admitted lying to his wife about his business.

Vocisano has remained in custody since his arrest, with a previous bail bid in 2023 rejected due to being considered a flight risk.