An Australian funeral insurance company was fined $3.5 million dollars but does not have to pay the fine.

A funeral fund that cost Aboriginal clients thousands of dollars in premiums when it collapsed has been hit with a $3.5 million fine, but will not have to pay it due to being in liquidation.

The Aboriginal Community Benefit Fund (ACBF), run by Youpla Group Pty Ltd, marketed itself as an Indigenous business and sold funeral premiums to customers across the country for 30 years.

Then the next step would be to fine and imprison the directors, surely?

https://www.abc.net.au/news/2025-07-10/acbf-youpla-fined-by-federal-court-misleading-customers/105515780

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SomeMichGuy · M

And seize their assets due to fraud.

Gusman · 61-69, M

@SomeMichGuy I have always wanted that to be the first penalty for fraudulent behaviour.
Take all their ill gotten gains, massive fines, big enough for them to file for bankruptcy, without loopholes.
Then a minimum 5 year prison term.

SomeMichGuy · M

@Gusman Yes.

Problem here in the US is the state-specific laws of bankruptcy have had lots of rich crooks build in FL...

Gusman · 61-69, M

@SomeMichGuy Which is why I have always stated - The Capitalist system was made so those with money would make more obscene amounts of money, very often fraudulently, with the backing of corrupt politicians.

SomeMichGuy · M

@Gusman As I have long said: fix $ in politics and ALL sorts of nonsense goes away.