Australia: $6 million fake property investment scheme

Two Adelaide men collected six million dollars for a supposed property project and were jailed. Investors received contracts and yield promises, but no projects existed. Warning signs: Returns far above market, described as safe; No licence with the financial regulator; Payouts funded by new investors' money. What to do: Make no further payments, secure documents and notify your bank and the regulator. Typical loss: A$10,000–A$500,000.