Story perspectives

Australian authorities accuse Sapphire Network of $400M fraud

8/21/2026

Summary

Story summary

Australian authorities say the Sapphire Network, operating from Israel, defrauded over 4,000 Australians of hundreds of millions.
The network used fake news, including counterfeit ABC reports, to lure victims onto bogus trading sites.
Victims lost about $125,000 and over $500,000 through the fake FBTC platform and a counterfeit ABC site.
Shefi Goldberg, a 43-year-old Israeli businessman, allegedly ran telemarketing centres in Israel, Cyprus and South Africa.

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Story summary

Australian authorities say the Sapphire Network, operating from Israel, defrauded over 4,000 Australians of hundreds of millions.
The network used fake news, including counterfeit ABC reports, to lure victims onto bogus trading sites.
Victims lost about $125,000 and over $500,000 through the fake FBTC platform and a counterfeit ABC site.
Shefi Goldberg, a 43-year-old Israeli businessman, allegedly ran telemarketing centres in Israel, Cyprus and South Africa.