Cryptocurrencies: 4 Australians accused of money washing in case of investment fraud

Crypto fraud in Australia. The Australian Securities and Investment (ASIC) Commission has recently been charged with four men in Victoria, including a former lawyer, for offenses of money washing on a large investment fraud. This case emphasizes the growing use of cryptocurrencies in connection with a comprehensive financial fraud.

Big fraud

According to Asic, from January to July 2021, Dimitrios podaridis,, Peter delis,, Floropoulos Bassilios AND Harry Tsalikidis would transfer funds from fraudulent bonds and investment investments to exchange cryptocurrencies. Although ASIC does not blame them for organizing fraud, they would play a key role in handling the victim’s funds by transferring them from Australian bank accounts into offshore accounts or by transforming them into cryptocurrencies.

Four men face multiple accusations for dealing with the criminal offense products, which is contrary to the Criminal Code of Commonwealth. Podaridis and flopoulos are confronted with 28 numbers, delis in eight and tsalikidis twelve, including deductible.

Colossal losses for investors

This matter is only the tip of the iceberg. In 2025, Scamwatch received more than 90,000 fraud reports, which represents approximately $ 98 million in declared losses, half of which is associated with investment fraud. In 2024, the Australians lost nearly $ 213 million because of these fraud.

Fraud often use fake comparative websites and ads on Facebook to attract victims. Investors are then contacted by phone or e-mail and receive a high-quality fraudulent prospectus imitating those of real financial services companies. These fictitious products promise attractive fixed yields ranging from 4.5 % to 9.5 % over a period of one to ten years.

ASIC has not yet revealed the total forgiven amount in this case or the number of victims concerned. The audience is scheduled for October 30, 2025.

Asic in the face of the rise of fraud associated with cryptocurrencies and intensifies his actions. In March, Brendan Gunn accused Brendan Gunn for solving products suspected of a criminal offense associated with crypto fraud. In addition, ASIC has issued a warning to automatic dispensing agents for cryptocurrencies concerning growing risks of fraud and money laundering.