The Supreme Court of Australia has ordered assets belonging to or under the control of Laurie Suarez be frozen.
The order permits a dollar amount of up to $555,174,472 to be frozen. This figure was reached based on investor claims against Suarez.
I don’t have specifics on the case, but at some point a group of Laurie Suarez’s victims filed suit against him in Australia.
As per a March 26th
paywalled article from The Courier Mail
;
Mr Suarez – who has previously served jail time for fraud, has been banned from managing corporations and was once a witness in a high-profile murder case – is being sued by some of the 30-plus investors who allegedly ploughed more than $5m into the schemes on the promise of huge returns.
Supreme Court Judge Thomas Bradley this month handed down orders freezing Mr Suarez’s assets up to the value of $555,174,472.04 – the amount the investors allege they are owed.
He has also been ordered to provide a list of his worldwide assets, including their location.
If I’m not mistaken, Suarez’s victims are claiming imaginary returns offered through Suarez’s various Ponzi schemes. And for some reason the Supreme Court of Australia is playing along.
To be clear: Laurie Suarez, a convicted felon, is a serial scammer who deserves to be stripped of every last dollar he’s stolen.
The problem is the $555 million being claimed doesn’t exist.
BehindMLM first came across Suarez as part of
The Berlin Group’s “Recycle Bot”
Ponzi back in 2018.
After a few brief Recycle Bot reboots, we had
RB Global Crypto Bank
, a
racist rant
bemoaning the collapse of another Ponzi Suarez was tied to,
RB Global Coin
,
Recycle Bot Crypto Growth Bank
and
XEMXLink
,
XEMXLink launched in 2021 and collapsed by the end of the year.
Despite mounting victim losses across multiple Ponzi schemes, The Courier Mail reports Suarez went on to launch Dynamis International.
As of March 2023, here’s how Suarez’s latest scam is going;
Dynamis International was placed in liquidation earlier this month and the lawsuit against the company has been temporarily stayed.
One interesting tidbit about the Australian SC class-action is that one of the Plaintiffs is a former partner in crime of Suarez’s.
Gold Coast professional musician Kristen Linehan … claims in court documents to be owed more than $8.2m.
She said she came to know Mr Suarez as a director of Recycle Superbot.
Ms Linehan alleged that during a live video chat, Mr Suarez complained that members were “not towing the line” [sic] by reinvesting profits into the scheme and “an accountant would be reworking the amounts owing to each member to a figure that was fair and reasonable”.
She said she made four successful withdrawals totalling $US1072 from her Gold account before October 2021 but later discovered her balance had inexplicably dropped from an estimated $A111,868.48 to $US15,000.
Ms Linehan said she also invested in other platforms promoted by Mr Suarez and ended up working for his company D
🤖 Quick Answer
Who is Laurie Suarez and why has the Australian Supreme Court frozen his assets?Laurie Suarez is an individual with a history of fraud convictions and corporate management bans who is being sued by over 30 investors in Australia. The Supreme Court froze up to $555 million of his assets based on investor claims alleging he misappropriated over $5 million through fraudulent investment schemes promising substantial returns.
What legal authority ordered the asset freeze?
Australia's Supreme Court, presided by Judge Thomas Bradley, issued the asset freeze order in March. The court determined that freezing assets up to $555,174,472 was justified based on documented investor claims against Suarez, ensuring funds remain available for potential compensation to defrauded parties.
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