The fraud against an investment house tied to one of America’s biggest companies, TPG Capital, sounds more suited to the pages of a modern-day financial crime thriller.
Add articles to your saved list and come back to them any time.On a cool morning in mid-March this year – as a series of bank runs gripped America – a fast-growing investment house in Oakland, California, would spark a chain of events that would have enormous ramifications in Australia.
But investigators have hit a snag after learning the names and addresses of ordinary Australians, with no links to Terra Global, Anew, or in some cases even NAB, have been used, or attempted to be used, by the hackers as part of their fraud. Several weeks later in early March – about 10 days before the meeting between Terra Global executives and Anew senior management – another Australian entity was set up. This time the company’s name was Terra Global Capital LL. The director was listed as Allan from Peakhurst in Sydney. Again the business appears to have not done any business.
Using a cloned email of Terra Global’s chief financial officer, Bart Kortum, hackers wrote to Anew: “Please find revised wire instructions for the return of funds we have better insurance with the Australian bank than with First Republic bank to cover the funds. Feel free to use ‘return of funds’ as description. Amounts and bank information can be found in email string below.
The problem for investigators is that it appears that none of the information provided on the Australian company with the NAB bank account, Terra Global Capital Pty Ltd, is true.
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