Director of Courtenay House sentenced to 11 years’ imprisonment for running Australia’s largest Ponzi scheme

Tony Iervasi ran a trading business called ‘Courtenay Trading’ based in Bondi Junction NSW, in which clients deposited funds for the purported purpose of investing in foreign exchange and futures trading. From its inception, the trading business was a Ponzi scheme. Mr Iervasi defrauded about 585 investors, who invested over $180 million for the purpose of trading those funds.