The substitution of a single character in an email address ended up with Team New Zealand’s event arm losing $2.8 million after paying it to a scammer’s Hungarian bank account.
The three-month timeline of how the scam unfolded, is laid out in multi-million dollar claims and counter-claims at the High Court at Auckland, between America’s Cup Event Limited, (ACE) and its sacked contractor Mayo and Calder Limited.
ACE is suing Mayo and Calder for the lost $2.8 million, alleging negligence by the contractor’s accountant, something the firm rejects in a counter-claim for $1.15 million.
In court documents, Mayo and Calder argue the role of ACE’s chief executive Grant Dalton in authorising payment, was the cause of the loss.
While the two parties disagree on who had ultimate responsibility, their claims to the High Court largely agree on the mechanics of how the scam unfolded, which is laid out in ACE’s claim.
To discover the clever scammer's technique, read the rest of the story at Stuff.