The Supreme Court docket of Australia has ordered belongings belonging to or below the management of Laurie Suarez be frozen.
The order permits a greenback quantity of as much as $555,174,472 to be frozen. This determine was reached based mostly on investor claims in opposition to Suarez.
I don’t have specifics on the case, however sooner or later a bunch of Laurie Suarez’s victims filed go well with in opposition to him in Australia.
As per a March twenty sixth paywalled article from The Courier Mail;
Mr Suarez – who has beforehand served jail time for fraud, has been banned from managing firms and was as soon as a witness in a high-profile homicide case – is being sued by among the 30-plus traders who allegedly ploughed greater than $5m into the schemes on the promise of big returns.
Supreme Court docket Choose Thomas Bradley this month handed down orders freezing Mr Suarez’s belongings as much as the worth of $555,174,472.04 – the quantity the traders allege they’re owed.
He has additionally been ordered to supply a listing of his worldwide belongings, together with their location.
If I’m not mistaken, Suarez’s victims are claiming imaginary returns supplied via Suarez’s varied Ponzi schemes. And for some cause the Supreme Court docket of Australia is enjoying alongside.
To be clear: Laurie Suarez (proper), a convicted felon, is a serial scammer who deserves to be stripped of each final greenback he’s stolen.
The issue is the $555 million being claimed doesn’t exist.
BehindMLM first got here throughout Suarez as a part of The Berlin Group’s “Recycle Bot” Ponzi again in 2018.
After just a few transient Recycle Bot reboots, we had RB International Crypto Financial institution, a racist rant bemoaning the collapse of one other Ponzi Suarez was tied to, RB International Coin, Recycle Bot Crypto Progress Financial institution and XEMXLink,
XEMXLink launched in 2021 and collapsed by the top of the 12 months.
Regardless of mounting sufferer losses throughout a number of Ponzi schemes, The Courier Mail stories Suarez went on to launch Dynamis Worldwide.
As of March 2023, right here’s how Suarez’s newest rip-off goes;
Dynamis Worldwide was positioned in liquidation earlier this month and the lawsuit in opposition to the corporate has been quickly stayed.
One fascinating tidbit in regards to the Australian SC class-action is that one of many Plaintiffs is a former companion in crime of Suarez’s.
Gold Coast skilled musician Kristen Linehan … claims in courtroom paperwork to be owed greater than $8.2m.
She mentioned she got here to know Mr Suarez as a director of Recycle Superbot.
Ms Linehan alleged that in a stay video chat, Mr Suarez complained that members had been “not towing the road” by reinvesting income into the scheme and “an accountant could be transforming the quantities owing to every member to a determine that was honest and affordable”.
She mentioned she made 4 profitable withdrawals totalling $US1072 from her Gold account earlier than October 2021 however later found her steadiness had inexplicably dropped from an estimated $A111,868.48 to $US15,000.
Ms Linehan mentioned she additionally invested in different platforms promoted by Mr Suarez and ended up working for his firm Dynamis Worldwide, which can be being sued.
She mentioned she was the corporate’s solely worker and he or she and Mr Suarez each labored from residence and communicated by way of cellphone, textual content and e-mail.
Appears Suarez and Lineham had a little bit of a fetish factor happening;
Ms Linehan claims that whereas working with Mr Suarez to draw bitcoin traders, she referred to him as “Sensei” and he known as her “Grasshopper” – an obvious reference to the Seventies cult basic TV present Kung Fu.
When you’re questioning how we bought right here, a civil class-action claiming over half a billion {dollars} in opposition to a serial Ponzi scammer, it’s as a result of Australian authorities doing completely nothing about Suarez.
Regardless of over a half-dozen scams launched over 5 years – so far Australian authorities have taken no motion in opposition to Suarez and his accomplices.
Usually Australia is utilized by offshore scammers abusing ASIC’s rubber-stamp registration of Australian shell corporations.
With Laurie Suarez we now have an Australian nationwide already convicted of fraud, persevering with to rip-off Australians out of thousands and thousands – and nonetheless nothing.
Not likely certain how the Suarez SC class-action will in the end play out but when there’s any additional updates we’ll maintain you posted.