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Police probe bond scam as HSBC, Vanguard, PIMCO are hijacked

Police probe bond scam as HSBC, Vanguard, PIMCO are hijacked Share NSW police are investigating a fraud scheme that dupes investors with fake high-yield bond prospectuses after young investors have had their hard-earned savings wiped out. Unwitting consumers were lured by the promise of high-yield funds badged by the finance world’s most trusted brands, in a scam revealed by The Australian Financial Review in early March. A fake high-yield bond prospectus claiming to represent PIMCO.  The complex British scam has widened its identity theft to global financial brands HSBC, Vanguard and PIMCO. It further ensnares new victims despite ongoing investigations by local authorities.

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