Crime does not pay; if anything, it makes you. And this was made evident with the recent Clee Capital vs Malaysian BNPL firm IOUPay (ASX: IOU) court drama. Playing out in a Johnny Depp and Amber Heard fashion, after IOUPay’s former CFO Kenneth Kuan Choon Hsuing—accused of misappropriating company funds—helped shareholder Clee Capital sue the
Read More
Fraud, losses, oustings and backtracking on deals—you’d think digital payments firm IOUPay (ASX: IOU)’s coffin couldn’t take any more nails. Untrue. The Company is now facing a new woe—and a big one at that: legal action via a disgruntled former CFO. IOUPay is being sued by one of its shareholders, Clee Capital, which holds 5.08%
Read More
If you’ve watched the 2022 film, The Menu, you’d know how the meals get progressively more disturbing until the head chef blows up the whole place (including the guests). That appears to be the trajectory South-East Asia-based digital payments company IOUPay (ASX: IOU) is on. After witnessing a BNPL decline and a slew of losses
Read More
Are you tired of working hard for your money? Well, some cunning fraudsters in the US have found effortless ways to make quick cash – by counterfeiting winning pull-tab/instant lottery tickets. Employing a number of intricate methods, counterfeiters have adopted techniques such as barcode tampering, fake scratch-off coatings, and even using advanced printing techniques that
Read More
Mining tech company K2fly (ASX: K2F) is set to incur a substantial loss for the year, having uncovered suspicious payments totalling $745k in a case of suspected fraud committed by a former employee in their South Africa office. Investigations are ongoing but upon initial concerns in accounting discrepancies, K2fly engaged external auditors which have now
Read More
In 2018, Australians lost almost $500 million to online scams. With the market for online scams being so lucrative, the scams are becoming intricately more complex and blurring the lines between fake and authentic. The latest Airbnb scam is just another example. Internet scammers have identified a major segment within the investor market where investors
Read More