Sunday, January 26, 2020

Oz Ponzi scammer Ryan Scott Williams pulls 5 years in Bali

Investigators reckon Australian fraudster Ryan Scott Williams made at least $28m out of a global Ponzi scheme called Centaur Litigation. Williams, a man of many, many names who has been convicted for running a boiler room scam in Thailand, is at the center of a chase for assets that’s circled the globe from the Cayman Islands to Thailand and a Sydney courtroom.

There was no hope for investors who pumped £80m ($128m) into the Centaur fraud. Williams lived for years in Thailand. Two other key Centaur players, Briton Brendan Terrill, who ran the Hong Kong office, and Canadian Duane McGaw, have scattered across the globe. Terrill was sentenced to three years’ jail in Britain for child porn. McGaw is in Vancouver running a Japanese restaurant and investing millions in real estate.
Williams got a shock when he was found guilty in Bali of producing 38.72 grams of cocaine – a charge with a maximum death penalty – and sentenced to 5 years behind bars. His legal team had been hoping for a lenient sentence served in rehabilitation, not jail.

The Indonesian judges instead found him guilty of production. His lawyer says Williams will not appeal the sentence because of the risk of it being increased.