Four Charged by ASIC for Money Laundering Role in Investment Bond Scam

The Australian Securities and Investments Commission (ASIC) has charged Dimitrios (James) Podaridis, Peter Delis, Bassilios (Bill) Floropoulos, and Harry Tsalikidis with money laundering offences linked to a sophisticated investment scam targeting retail investors.

Between January and July 2021, the four allegedly dealt with funds derived from offerings of fraudulent bonds and other financial products, knowing or being reckless as to whether those funds were proceeds of crime. While not accused of running the scam directly, ASIC alleged that they facilitated the movement of victim funds through Australian bank accounts and into offshore accounts or crypto exchanges.

The scam reportedly used fictitious investment comparison websites and Facebook ads to lure investors, followed by phone and email contact, and the distribution of high-quality, falsified prospectuses or copied prospectuses of major financial services providers. Promised fixed returns ranged from 4.5% to 9.5% annually over terms of 1 to 10 years.

ASIC began investigating after receiving complaints from consumers and corporate and institutional entities. The case is scheduled for committal mention on 30 October 2025 and is being prosecuted by the Commonwealth Director of Public Prosecutions.

Earlier this year, ASIC issued a scam alert warning about fraudulent investment bond offers impersonating Bunnings Warehouse. 

Investors can Ask a Question on BrokersView for guidance on avoiding sophisticated financial investment scams.