Tuesday, August 30, 2022

The Wolf of Woy Woy: On the Dangers of Cryptocurrencies and the Uselessness of Blockchain



"He promised me I'd make a fortune. He promised me, 'This would change your life'." First time investor

When a smooth-talking businessman came to a working-class Australian suburb his promises of a better life were intoxicating. Hundreds of investors believed him and bought shares in the mining exploration company he spruiked.

"We're just battlers. You know we did what we thought was right, we were led to believe it was going to make money."

Instead, almost all the battlers lost their hard-earned cash, for some their entire life savings.

"After we invested our money . . . He virtually vanished." Pensioner

On Monday Four Corners reporter Caro Meldrum-Hanna goes in pursuit of the elusive businessman and the missing money people invested in his business, obtaining hundreds of internal company documents.

The Wolf of Woy Woy: The working-class investors duped by a man the regulators won't pursue


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