Mail Online
Aussie couple make disturbing discovery about their business
Melbourne woman Jemma Matthews explained she and her husband were completely unaware of the problem for ten months.
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Melbourne Couple's Business Stolen in Elaborate Corporate Fraud
Melbourne, Australia – A local couple, Jem Matthews and her husband, have recently revealed a shocking incident of corporate fraud that saw their painting business effectively stolen for ten months. The complex scheme involved an unknown party fraudulently transferring shares and directorship of their company, established in 2021, into another individual's name. This elaborate deception went undetected until a routine home loan refinancing process brought the irregularities to light. According to Ms. Matthews, the fraudsters gained access using the company's ASIC (Australian Securities and Investments Commission) business key, a unique identifier provided upon business registration. 'We were told to put it in a safe and not worry about it, as we weren't transferring any shares or doing anything to the business,' Ms. Matthews explained in a recent video. 'They played the long game.' The perpetrators logged into the ASIC account in 2022, changing the contact email and phone number, and subsequently paying the annual asset fees. In December 2024 and March 2025, they transferred the couple's shares out of their names and even added 500 new shares to dilute their ownership. The discovery sent shockwaves through the family. 'We were freaking out, honestly,' Ms. Matthews stated, expressing concern over the potential loss of their entire business, including company cars and employees. Fortunately, a crucial detail saved them: her husband remained listed as a director, albeit one unable to make decisions. This allowed an 'absolute angel' at ASIC to revert all fraudulent changes. While the immediate crisis has been averted, the couple remains baffled by the motive, speculating it could be for tax purposes or other fraudulent activities. The incident highlights the vulnerabilities even established businesses face and the importance of regularly monitoring corporate registrations.
