Dozens of Australian investors have lost a total of $7 million in a collapsed investment scheme run by an unlicensed financial trader.
Gunter Lang, a former industrial chemist, who headed the scheme is being investigated by the corporate watchdog ASIC.
Mr Lang traded using the online platform IG Markets, in an account under his son Tony Lang’s name which breaches IG’s policies.
One of 32 investors, Darryl Floyd, has recently been diagnosed with cancer for a third time and has had to put off retirement after losing $100,000 in the scheme.
“Absolute…
Read the full article at: http://www.abc.net.au/news/2016-02-11/investors-scorched-in-gunter-lang-ponzi-scheme/7160566