Laurie Suarez: His Fraud Story Exposed His Truth (2023 Update)
According to reports, Laurie Suarez, who previously served time in prison for fraud, and was banned from managing businesses, is being sued by some of the 30-plus investors who allegedly invested more than $5 million in his schemes on the promise of huge returns.
This month, Supreme Court Judge Thomas Bradley filed orders freezing Suarez’s assets up to $555,174,472.04, the amount alleged by the investors.
The order allows for the freezing of up to $555,174,472 in cash. This amount was calculated using investor complaints against Suarez. He has also been asked to list his global assets, including their location.
What do Victims Complaint About Laurie Saurez?
Suarez’s victims are claiming fraudulent returns from Suarez’s numerous Ponzi schemes. And, for some reason, the Australian Supreme Court is going along with it.
According to the victims, Laurie Suarez, a convicted felon, is an ongoing fraudster who should be stripped of every last dollar he takes.
Suarez was discovered by BehindMLM in 2018 as part of The Berlin Group’s “Recycle Bot” Ponzi.
How exactly does a Ponzi scheme operate?
An investment fraud known as a Ponzi scheme draws investors with claims of great returns and no risk but fails to invest the money as stated. Instead, it pays off earlier investors with money from future investors while maybe keeping a portion of the profits. These schemes typically fail when recruiting investors becomes challenging or when multiple investors attempt to cash out. They depend on a steady flow of new buyers to operate. They are called after Charles Ponzi, who ran a similar scam using postal stamps in the 1920s.
Suarez was linked to another Ponzi Scheme, RB Global Crypto Bank, RB Global Coin, Recycle Bot Crypto Growth Bank, and XEMXLink, according to reports following a few quick reboots.
XEMXLink launched in 2021 and collapsed before the end of the year.
Dynamis International, A Bogus Business Of Laurie Suarez
According to The Courier Mail, Suarez found Dynamis International despite rising victim losses from other Ponzi scams.
Laurie Suarez’s scam continued to operate as Dynamis International as of March 2023, even though the firm was placed in liquidation earlier this month. The court case against it was temporarily stayed. One interesting fact regarding the Australian Supreme Court class action is that one of the Plaintiffs is Suarez’s old criminal partner.
Kristen Linehan, a professional musician from the Gold Coast, says in court records that she is due more than $8.2 million. She described Suarez as a director of Recycle Superbot.
Ms. Linehan said that Laurie Suarez complained during a live video chat that members were “not toeing the line” by reinvesting money in the scheme and that “an accountant would be reworking the amounts due to each member to a figure that was fair and reasonable.”
She claimed she withdrew $US1072 from her Gold account four times before October 2021; afterward, she noticed her balance dropped from an estimated $A111,868.48 to $US15,000.
Ms. Linehan stated that she also invested in other platforms pushed by Suarez and eventually worked for his company, Dynamis International, which is also being sued.
She claimed to be the company’s only employee and that she and Suarez worked from home and interacted via phone, text, and email.
More Details About Linehan & Laurie Suarez Case
Laurie informed her that her job was to find investors to invest in Dynamis’ clients’ OTC (Over-The-Counter trading scheme)” She stated, “My working relationship with Laurie was friendly. He would address me as ‘Grasshopper,’ and I would address him as ‘Sensei.'”
She claimed that when she texted him in September 2020 about a $25,000 commission she had been promised, he told her the money had been transferred to a trading account that had “just hit $300,000.”
“To date, I have not received the $25,000 promised in commission, nor the $300,000 that it had allegedly grown into,” she added.
Dynamis International was placed in liquidation earlier this month, and the company’s case temporarily stayed. Justice Bradley additionally ordered Suarez to provide an updated defense and rescheduled the case for May.
Laurie Suarez’s spokeswoman stated that he intends to “vigorously defend the claims.”
Suarez spoke in court on the 2012 murder of Macleay Island grandmother Lisolette Watson. He served time with the suspected murderer, Macleay Island junk mail delivery driver Steven Fennell, who was sentenced to life in prison for the crime but had his conviction overturned by the High Court in 2019.
Why Do Australian Authorities Have Taken No Action Against Laurie Suarez?
Despite over a half-dozen scams attempted over five years, Australian authorities have taken no action against Suarez and his associates. Offshore scammers use Australia by misusing ASIC’s rubber-stamp registration of Australian shell companies.
Laurie Suarez has already been convicted of fraud and continues defrauding Australians out of millions of dollars – nothing has changed. No one can tell when and how the Suarez SC class action will end.
Laurie Suarez has been the president of Xeniumx since 2019. Despite the firm being placed in bankruptcy earlier this month and the court case against it being temporarily stopped, his fraud continued to operate as Dynamis International as of March 2023.
Some 30-plus investors who allegedly placed more than $5 million in his schemes on the promise of huge returns have filed suit against him. This month, Supreme Court Judge Thomas Bradley issued orders freezing Suarez’s assets up to the amount claimed by the investors, $555,174,472.04.