Former AFL star represents himself in legal claim
Former AFL star Warren Tredrea says he's paid a legal debt owed to Nine in the form of an IOU note because he doesn't recognise Australian currency.
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Canberra Times
an hour ago
- Canberra Times
Thai police arrest 13 in $A1.9m scam targeting Aussies
"The group amassed at least 1.9 million in (Australian dollars) from Australian victims in just the short time it had been operating. Money that we say was stolen from hard-working Australians and not invested as promised," she said.
Perth Now
an hour ago
- Perth Now
Thai police arrest 13 in $A1.9m scam targeting Aussies
Thai police say over a dozen foreigners, mostly Australians and British, were arrested for allegedly running an online investment fraud that had duped people out of at least $A1.9 million. Police on Monday raided a rental house in the province of Samut Prakan, neighbouring Bangkok, and arrested 13 people, said Jirabhob Bhuridej, chief of the police's Central Investigation Bureau, at a press conference in the Thai capital. Jirabhob said the Australian Federal Police (AFP) informed Thai authorities last year of a scam group led by an Australian and a British, and a joint investigation was launched. The alleged scammers operated out of Thailand to swindle money from victims in Australia and potentially other English-speaking countries through online advertisements and phone calls to invest in long-term bonds with a promise of high returns, Jirabhob said. Footage showed the men after being arrested in the rental house that was converted into an office. Papers of alleged scam scripts and workflow were taped to their partitioned desks. There were also whiteboards the police said were used for tracking their progress, and clocks on a wall showing time zones across Australia. Thai police said they staked out the house for several months and saw the men coming and going at times that coincided with working hours in Australia. They said they confiscated a number of phones, computers and other electronic devices allegedly used for the scam. AFP senior officer Kristie-Lee Cressy said at the Bangkok press conference that at least 14,000 Australians had fallen victim to this scam. "The group amassed at least 1.9 million in (Australian dollars) from Australian victims in just the short time it had been operating. Money that we say was stolen from hard-working Australians and not invested as promised," she said. "Shutting down this scam centre is a significant win for the communities of Thailand and Australia." Australian authorities believe the two leaders of the group had been running scams for many years and operating in several countries, including Indonesia, where they had escaped arrest before being found in Thailand, Jirabhob said. The group of men arrested in Thailand on Monday includes six British, five Australians, one Canadian and one South African, officials said. They said the suspects denied all wrongdoing, saying that they believed they were working legally for a legitimate investment company. Immigration officials said they entered Thailand with different kinds of visas, including for retirement and education. Jirabhob said they were initially charged with racketeering and working in Thailand without a permit. He said further investigation could lead to more serious charges, including fraud and involvement in a transnational organised crime. Australian police officer Cressy said Australia suffered an estimated damage of $A4.45 billion from online scams in the past four years. A UN report in April said transnational organised crime groups in East and Southeast Asia are spreading their lucrative scam operations across the globe in response to increased crackdowns by authorities.
Perth Now
an hour ago
- Perth Now
Australia faces ‘world of churn': Chalmers
Jim Chalmers has warned of a 'world of churn and change' that will impact the Australian economy as he outlines plans to see the nation through the current uncertainty. The Treasurer has warned 'the rules of trade have changed', meaning Australia will need to modernise its economy or risk living standards. In a speech to the National Press Club on Wednesday, the Treasurer is expected to warn the Australian economy will be impacted by the weakest global growth in two decades, spiking oil prices out of the Middle East and a new global order. Jim Chalmers warns of a 'world of churn and change'. NewsWire / Martin Ollman Credit: News Corp Australia 'It's a perilous moment there and that means even more perilous times for the global economy too,' he will say, referring to the Middle East conflicts. Mr Chalmers will highlight the IMF is currently saying trade uncertainty is seven times higher than just nine months earlier at a point higher than the pandemic. 'The rules and ideas that made up what we thought of as the global order are being rewritten,' he will say. 'This is the fourth economic shock now in less than two decades, a near permanent state of upheaval. 'Where shifts in energy, industry, demography and technology shape the bigger backdrop.' Despite the global backdrop, Mr Chalmers will say Australia can achieve its goals by modernising the economy and 'maximising our advantages.' 'In this world of churn and change we like our chances,' Mr Chalmers will say. 'But only if we make our economy even more resilient. 'By securing capital and shoring up supply chains, building more partnerships in our region and diversifying our trade and modernising our economy and maximising our advantages.' The Treasurer's speech will allude to pressures on global growth as outlined by the World Bank's latest forecast. Mr Chalmers warning follows a World Bank prediction of slowing economic growth. NewsWire / John Appleyard Credit: News Corp Australia Analysis released this week by the World Bank predicts global growth will slow to 2.3 per cent in 2025, down from 2.8 per cent this time last year. This is a downgrade of 0.4 per cent since the start of the year. If the World Bank's forecasts come true, this would be the weakest period outside of the worldwide recessionary periods of the GFC from 2007-2009 and the Covid pandemic at the beginning of the decade. The World Bank's bleak forecasts comes as the US GDP came in at negative 0.3 per cent for the first three months of the calendar year. According to the latest ABS figures, GDP rose in the March quarter by 0.2 per cent and 1.3 per cent year-on-year. But that anaemic growth was not enough to keep Australia out of a per capita recession, with the nation going backwards by 0.2 per cent per person. NED-9175-Australia's GDP Mr Chalmers will say the best defence to this slowing economy is to lift living standards, create a more productive economy and a stronger budget. He will discuss the upcoming productivity round table to be held in August. 'By now our shortage of productivity growth is well known and broadly understood,' he will say. 'Almost every comparable country has the same challenge. 'Our own productivity problem hasn't been with us for a couple of years, it's been with us for a couple of decades. 'In the ten years before the pandemic, productivity grew only half as fast as it had two decades earlier. 'The 2022 election coincided with the largest quarterly fall in productivity growth in almost half a century.' Mr Chalmers will say there was more work to be done, but it started with cutting taxes, boosting wages, restoring real incomes while also repairing the budget and fighting inflation. 'To deliver higher living standards for our people we recognise three blunt truths,' Mr Chalmers will say. 'Our budget is stronger, but not yet sustainable enough. 'Our economy is growing, but not productive enough. 'It's resilient, but not resilient enough – in the face of all this global economic volatility.'
