ASIC Charges Four for Crypto Laundering in Fake Bonds Scam

Australia’s Securities and Investments Commission (ASIC) has charged four Victorian men with crypto laundering in connection to a major fake bonds scam. Between January 2021 and mid-2023, ex-barrister James Podaridis, Bill Floropoulos, Peter Delis and Harry Tsalikidis allegedly moved investors’ funds into bank accounts, transferred them offshore or converted them into cryptocurrencies via digital exchanges. The fraud used bogus comparison sites, Facebook ads and counterfeit prospectuses to promise fixed returns of 4.5–9.5% annually over one to ten years. ASIC alleges they recklessly handled criminal proceeds, with Podaridis and Floropoulos facing 28 counts each, Tsalikidis 12 counts and Delis eight. A committal mention is set for 30 October 2025 under the Commonwealth Director of Public Prosecutions. This crypto laundering case underscores increasing regulatory scrutiny on digital assets and the need for stronger anti-money laundering measures. Traders should monitor enforcement trends as ASIC intensifies crackdowns on illicit fund transfers in the crypto market.