27 GIU 2024 · In another great instalment on the Ken Grace saga, on The Sounds of The Baskerville Podcast, Chris Baskerville again explains in everyday terms the complex world of insolvency practice, exploring the quasi-judicial role of trustees in a balance between law and accounting. He explains to James Flaherty and listeners his challenges chasing down the Goldsky Ponzi scheme, the importance of making informed decisions, and the impact of such schemes on real lives. Chris shares his experience being challenged by the Australian Securities and Investments Commission (ASIC). He then discusses how strategic decisions were made to secure assets and gain the cooperation of ASIC and great help from their lead investigator. And don’t forget the crucial role of the creditors themselves! In Chris's easy-to-listen-to style, learn more about the legal and emotional ramifications of financial fraud, the importance of quick settlements, and the value of turning adversaries into allies. The conversation also touches on the personal toll these cases take on investors, highlighting the human side of financial crime. This episode is a must-listen for anyone interested in the intersection of law, finance, and the human stories behind the headlines.

13 GIU 2024 · Following the money to uncover the truth. In this episode, Chris highlights the investigative process, the challenges faced by liquidators, and the legal strategies he employed to recover assets from financial fraud. Listen in to hear how meticulous work was required to unravel what looked like a complex financial scheme but was, in reality, a simple fraud.  What trade-offs did Chris have to make in chasing down the money, and who got what? What were the red flags, the clues he and his team uncovered, and—without giving away the secret sauce—how?!

30 MAG 2024 · FOMO, fear of missing out! And when it all went south, how did a few keep the money they might have known wasn't so legit? In this episode of The Sounds of the Baskerville, Chris Baskerville continues the story of his investigation of the Goldsky Ponzi scheme.  The scam defrauded investors millions by promising a 20% guaranteed return on their money. Chri explains how the fraudster, Ken Grace, used fake documents, celebrity endorsements, and a shell game to fool e people into his scheme and how he paid the early investors with the money from the later ones to create a word-of-mouth effect. How did Ken Grace use the credibility of some people to abuse the trust of so many?   Some people got their money back and kept it. How?  Chris discusses the differences between the Goldsky case and the Bernie Madoff case (the largest Ponzi scheme in history). He looks at the different outcomes for the fraud's winners and losers.  Why should those who knew or suspected the fraud and walked away with profits give back the money? Why don't so many have to give back what they got and share it with the victims who lost their life savings?

17 MAG 2024 · In this next episode of The Sound of the Baskerville, Chris Baskerville continues the story of Goldsky, a fraudulent investment scheme that claimed to use sophisticated algorithms and behavioural science to generate high returns for its clients. This time, Chris talks James through 'the information memorandum' that Gold Sky used to lure investors and points out the red flags and inconsistencies that should have raised suspicion. Listen in as Chris tells how the founder of Gold Sky, Ken Grace, uses fake credentials, copies websites, and exploits the names of celebrities and reputable firms to create a false image of legitimacy and credibility. Don't try this at home! What's the psychology behind the investors' decisions, and the challenges and risks involved in investing in unregistered and unregulated schemes - that all too often target unsophisticated investors? Let's face it, that's most of us...

9 APR 2024 · What do a real estate agent, a restauranteur, a meat worker, a concreter, and an alleged mistress have in common? They were all supposedly in the Sydney office of the Goldsky Ponzi scheme, senior investment advisors. This episode of our mini-series continues on the Gold Sky Ponzi scheme, a fraud that involved a fake hedge fund and deceived investors in Australia and the US. Chris Baskerville explains how the mastermind of the scheme, Ken Grace, used a loophole in the Australian regulations to avoid getting an AFSL licence and claimed to have an SEC licence in the US. Brazenly, Grace copied content from other websites to create a false impression of legitimacy and credibility. Chris tells how he was eventually exposed by the SEC and ASIC. The podcast also explores the role of various people who were involved in the scheme as senior investment advisors despite having no relevant qualifications or experience. The podcast aims to expose the deception and manipulation behind the Gold Sky Ponzi scheme and to warn potential investors about the risks of such scams.

28 MAR 2024 · Welcome to the first episode of 2024, the start of our series on the Goldsky Ponzi Scheme, one of the more brazen frauds in Australian history. Many people say they are ‘experts’ on this case, but let’s get the story from the man who had to unpick it. In this mini-series, we will follow the trail of Kenneth Grace, the mastermind(?) behind Goldsky. Grace contrived to be named hedge fund manager of the year and swindled millions from unsuspecting investors. Chris Baskerville and his team were appointed to recover the money that they could and unravel the web of lies. Chris will share his insights and anecdotes on how he pursued Grace's falsehoods across the globe, from Singapore to the US, and exposed his deception. While a serious topic, we hope you will find this series entertaining and informative as we explore the anatomy of a Ponzi scheme and the lessons we can learn from it. Stay tuned for the next episode, where we will dive deeper into the details of Goldsky and its operations.

6 MAR 2024 · In this Prologue to The Sounds of the Baskerville Podcasts for 2024, James Flaherty, talks with two insolvency experts, Chris Baskerville and Bill Cotter, about the Small Business Restructuring (SBR) regime in Australia. SBR is a relatively new option for businesses with less than $1 million in debt to restructure their affairs and avoid liquidation, with the help of a Small Business Restructuring Practitioner (SBRP). Bill and Chris explain that the SBR process is fast, efficient and a bit more flexible than formal insolvency events. , SBR allows businesses to propose a plan to their creditors that can reduce their debt and improve their cash flow. The SBR process has a high success rate, with over 80% of the plans being accepted by creditors, often the Australian Taxation Office (ATO), which is typically the largest creditor. What works, what doesn't and why act now (we always say that, but why this time?)

8 DIC 2023 · A short podcast that mixes MC hammer, cliches and mixed metaphors (yes, we've probably done most of these before, but maybe not all in the one episode). Good things come to those who wait. And, increasingly, Director Penalty Notices those Directors who do not lodge r need with the ATO about tax Debts. Everyone knows (well, maybe not self-funded retirees) that the squeeze is on. Interest rates up, prices up, ents up, business activity OK,ish... The Taxman cometh. We know what the Directors owing tax need to do. We looked back at some numbers and looked at formal insolvencies by type and what they are.

20 NOV 2023 · As the boss of the business, the entrepreneur, the one who understands the risks, whose advice do you respect? We often talk about getting trusted advice from qualified people, but what about other business leaders? How can you engage with them and talk shop in more detail and still keep what needs to be secret under lock and key? In this week's episode, Chris Baskerville and James Flaherty are joined by Simone Dunlop to hear how her organisation helps business owners get useful business advice from peers and respected individuals. Simone, the CEO of My Business Team, shares insight into how her company provides business owners with a platform to connect, discuss, and address their business challenges successfully. As an entrepreneur, it is not always easy to find the advice you can easily accept or sometimes be able to pay for. However, with a peer perspective and building mutual respect, there are ways to get help with business challenges - or face issues you haven't wanted to deal with. And you can always get handy contacts! Tune in to this episode to learn more about the benefits of seeking peer advice, from the right peers!

12 OTT 2023 · A topic we often come back to! How come there are so many scams? How do people get trapped? And how do the crooks still get away with it? Chris Baskerville, The Ponzi King (as in the man to get who'll go after the money and the bad guys) shares the 'watch-outs. Yes, we've covered a bit of this ground before, but what does Chris see now? After some big wins in court, anything to add to the watchlist? Sure, if it sounds too good to be true, it usually is. But the smart trickster can disguise a scam. And sometimes, the bad scheme doesn't start out that way, or the promoter loses sight of who they are supposedly investing for. Whatever the story, hear the master storyteller himself, Chris Baskerville, fills us in.