High roller’s son sparked regulatory concerns after bank investment

Australia’s prudential regulator raised serious governance concerns over a start-up bank’s handling of a multimillion-dollar investment by the son of a casino high-roller.

A confidential report by Grant Thornton, obtained by The Australian Financial Review, reveals the regulator was “not satisfied” with in1bank’s due diligence of its major investor, Felix Lee.

Source: https://www.afr.com/companies/financial-services/high-roller-s-son-sparked-regulatory-concerns-after-bank-investment-20260520-p5zz43