Banker accused of fraud in Aspen and California appears in Australia

A former Australian banker accused of defrauding investors in California and Aspen before moving to Bali has been holidaying in Australia and asking for funds, despite being pursued by authorities in the United States.

In public documents, the Securities and Exchange Commission has accused Andrew Waters, a former investment banker, of reeling in wealthy investors by inviting them to dinner and befriending them, then selling them “worthless” shares in a company called ECom Products Group Corporation.