HomeAustraliaAlleged scammer refused bail after stealing $25 million from Sydney residents

Alleged scammer refused bail after stealing $25 million from Sydney residents

An alleged con man has been denied bail after he allegedly stole $25 million from dozens of mom-and-pop investors around the world. from sydney south west.
Vincenzo Vocisano’s LinkedIn profile said he was a forex trader, but New South Wales Police they allege he defrauded millions from up to 40 investors, mostly people he knew from where he lived in Oran Park, as well as friends and family.
Vincenzo Vocisano has been denied bail after being accused of stealing $25 million through a Ponzi scheme. (Nine)

Vocisano is alleged to have told the victims that he was investing it in foreign exchange through his business, Triple Cross Investments, but today a court heard that he allegedly wagered $25 million through personal betting accounts, including Sportsbet.

Detectives allege he operated a Ponzi scheme using investors’ money to pay high returns to other clients.

Some alleged victims received returns on their investments for months and then recommended Vocisano to friends and family.

The investors allegedly entrusted him with savings of between $10,000 and $3 million each.

Camden detectives began investigating after the 40-year-old man went to the Narellan police station last year, claiming he had been criticized over a $6.7 million investment gone wrong for a client.

One victim compared her alleged crimes to those committed by con artist Melissa Caddick, who defrauded family and friends of $20 million to $30 million in a Ponzi scheme before her disappearance.

Today a magistrate told Tweed Heads court that the case against Vocisano was strong and refused his bail.

9News understands that more victims have come forward since the alleged scammer’s arrest and expects more to follow.

sign up here to receive our daily newsletters and breaking news alerts, sent directly to your inbox.

Source by [author_name]

- Advertisment -