An astonishing multi-million-dollar swindle that nearly lost an Australian guy residing in London his home, business, and health has been uncovered.
Rajesh Ghedia was found guilty of participating in the AU$ 3.3 million scams by posing as a financial consultant for Bank of America and received a six years and nine months prison sentence last year.
Employee Scammed Victims
Rajesh Ghedia, an Australian who worked for the greatest financial institution in the world, was given a six-year and nine-month prison term for posing as a Bank of America financial consultant in an AU$ 3.3 million scam.
Ghedia persuaded Wayne Johncock, an Australian, and his wife Nicky to invest in fictitious financial products despite not having the right to do so, and then kept the money for himself.
- Australian man Rajesh Ghedia faces a six-year prison sentence for an AU$ 3.3 million swindle scam.
- Johncock suffers mental health setback from losing $A337,000 to con games.
- Ghedia claimed pancreatic cancer for $2.2 million pension benefits; police investigate.
Johncock suffered a serious mental health setback as a result of losing almost $A337,000 to Ghedia’s con games. Another victim was told they owed the bank $135,368 in taxes relating to a bogus investment portfolio, leading them to sell their home.
One of his victims called the bank and discovered the $A250,000 he invested had been transferred to Ghedia’s account, causing the scams, which date back to 2016, to come to light.
Ghedia claimed to have stage 4 pancreatic cancer to earn $AUD 2.2 million in pension benefits from insurance providers. Detectives started looking into his insurance claims when his mortgage company, Spring Finance, started to grow concerned after numerous missed payments.
In June 2022, Ghedia entered a guilty plea to more than 30 counts of fraud. Johncock is pursuing damages, and he and his wife are hoping that other financial institutions will increase their security.
