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AAP
AAP
National
William Ton

Investor scammer unaware of company rules

Richard Ayoub Jaswinder Singh United States Bitcoin Robyn Tupman
Richard Ayoub promised to invest people's money in bonds but instead used it to buy Bitcoin. (Joel Carrett/AAP PHOTOS) (AAP)

An American self-described business tsar was not aware his company required an ABN or tax file number to operate as he swindled millions from almost two dozen investors.

Richard Emile Ayoub defrauded 21 investors out of $3.5 million after promising to invest their money in overseas bonds but instead used the money to buy Bitcoin.

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