Senior WA shire worker charged for fraud, corruption, stealing and perjury
By Andrew Williams and Chloe Henville
Sam Curulli leaving Perth Magistrates Court. (ABC News: David Weber)
In short:
A 27-year-old man has appeared in court on fraud, corruption and stealing charges while he was employed by a regional WA shire.
Sam Anthony Curulli was a senior public officer with the Shire of Coorow when the alleged incidents occurred.
What’s next?
Mr Curulli’s case has been adjourned to April 23.
Investment fraud targets the human desire for financial growth by promising high returns with “low to no risk.”
- Ponzi Schemes: Named after Charles Ponzi, these schemes pay “returns” to earlier investors using the capital brought in by newer investors. There is no actual underlying business; the system collapses when new recruitment slows down.
- Pyramid Schemes: Similar to Ponzi schemes, but participants are usually required to sell a product or service. The primary “profit” comes from the recruitment fees of new members rather than actual product sales.
- Pump and Dump: Fraudsters spread false, positive rumors about a cheap stock (the “pump”) to drive up the price. Once the price peaks, they sell their shares (the “dump”), leaving other investors with worthless stock.