News Forum - Australia charges Chinese nationals in US online scam totalling over US$100 million in losses

[Thaiger]

Four Chinese nationals in Australia are being charged with an online investment scam that allegedly caused losses of over US$100 million. The scam, which was mostly carried out in the US, involved the manipulation of legitimate electronic trading platforms that were licensed to foreign exchange brokers. Those brokers then allegedly provided the software to their clients, resulting in major financial losses worldwide. According to The Straits Times, the Australian Federal Police say the US Secret Service notified them about the Chinese nationals’ links to the US-based scam. The accused Chinese nationals were residents of Sydney, but most of their victims […]

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[hughcow]

Why are they not being extradited to the USA?

[Fanta]

1 hour ago, hughcow said:

Why are they not being extradited to the USA?

Because they used Australia registered companies and Australian bank accounts for their shenanigans so they are initially being charged with “dealing with the proceeds of crime” in Australia. After they serve their sentence in Australia they will probably be sent to the US for more charges. 

[hughcow]

On 12/12/2022 at 11:02 AM, Fanta said:

Because they used Australia registered companies and Australian bank accounts for their shenanigans so they are initially being charged with “dealing with the proceeds of crime” in Australia. After they serve their sentence in Australia they will probably be sent to the US for more charges. 

If so, they will get their just desserts after serving a slap on the wrist sentence in Australia.

[Vigo]

1 hour ago, hughcow said:

If so, they will get their just desserts after serving a slap on the wrist sentence in Australia.

If you consider the relatively comfortable living quarters of a USA federal minimum security prison worse than Aussie detention.