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A fraudulent scheme pretending to sell air conditioners to BHP and promising a “10 times” return to investors has led to jail time for a man who swindled some of the biggest names in Australian business.

Key points:

  • A state treasurer and former AFL chair were among investors caught up in a scam about efficient air conditioners
  • Steven Phillip Heaton was jailed after falsely telling investors that BHP was going to buy thousands of the units
  • The technology might actually work, but more research is needed

An unsolicited LinkedIn message and some doctored emails took in sophisticated investors, including a former AFL chair, a former state treasurer, a banking boss, and a leader at a global mining company.

Full Story Here

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