- The LICs use funds under management to ramp their own share price and each other.
- The LICs pay dividends out of capital raisings, in a ponzi of new investors paying old.
- The LICs use fraudulent accounting to inflate assets, hide losses and create opacity.
- The LICs cooperate to ramp chosen illiquid shares and other manipulable assets.
The following presentation provides details of the longrunning Australian LIC scam:
This blog will provide updates on the largest Australian scam ever. Usually scams can only be analyzed in the rearview mirror, but thanks to ASIC's truly astounding incompetence and impotence, this instance provides the opportunity to observe massive securities fraud as it unfolds in real-time.