CloudTech Group faces scrutiny over ties to $2.8 billion Ponzi scheme
CloudTech Group, a Melbourne fintech partnering with RMIT, is overseen by two former executives of the collapsed HyperTech conglomerate linked to a $2.8 billion Ponzi scheme. US prosecutors allege HyperTech siphoned $2.69 billion globally from investors from June 2020 to November 2022. Concerns arise regarding RMIT's vetting processes for sponsorships amid this controversy.
Summary by OZbrief Editorial · Brisbane Times · Source
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Published 19 Jun 2026, 09:45 UTC · Updated 19 Jun 2026, 09:50 UTC
Summary by OZbrief Editorial. Original report: Brisbane Times. Editorial policy · Corrections
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