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Last updated - September 19, 2025
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Plus94 Fund faces red flags over the appointment of Arjuna Samarakoon, convicted in 2017 for defrauding the ATO of AUD 550,000 through false R&D tax claims. He served 29 months, was disqualified by ASIC, and still owes more than AUD 2.5 million amid ongoing probes into suspected laundering via 40+ entities. His compromised record poses serious governance, fiduciary,...
Strategic Consultant
Medium Risk
Based on the available data, we suggest consumers approach this Company with caution.
This advisory is based on a medium-risk score derived from OSINT, Adverse Media, Reviews, and Risk Factors identified in our research.
You may face moderate risks when engaging in consumer-related activities with this entity.
Based on the available data, we advise employees to be mindful when considering or continuing work with this Company.
This advisory stems from a medium-risk score compiled from OSINT, Adverse Media, Reviews, and Risk Factors uncovered in our analysis.
Employment with this entity may involve moderate risks.
High Risk
Based on the available data, we urge investors and bankers to avoid financial involvement with this Company.
This advisory is informed by an aggregate risk score based on OSINT, Adverse Media, Reviews, and Risk Factors identified through our investigation.
Engaging in investment or lending activities with this entity poses a substantial risk to your financial interests.
Safe to Onboard
Enhanced Due Diligence required
Do Not Onboard
Monitor adverse media every 6 months
File SAR (Suspicious Activity Report) is warranted
Escalation to compliance committee
None
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Arjuna Samarakoon, a strategic consultant at Plus94 Fund, was convicted in 2017 for defrauding the Australian Taxation Office of approximately AUD 549,719 through false R&D tax incentive claims, personally pocketing about AUD 380,000.
He was sentenced to 29 months’ imprisonment (with 18 months to serve) for the fraud.
He was disqualified by ASIC as a SMSF auditor for dealing with proceeds of crime and obtaining financial advantage by deception.
He still owes more than AUD 2.5 million and is subject to ongoing probes into suspected laundering via over 40 entities.
Consumer reviews describe lack of transparency, hidden conditions when withdrawing capital, inconsistent returns, vague reports and difficulty contacting customer service.
Yes, ASIC disqualified Arjuna Samarakoon as an SMSF auditor and flagged him for dealing with proceeds of crime.
Regulatory and Compliance Screening
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Arjuna Samarakoon of Plus94 Fund was jailed for 29 months for fraudulent R&D tax claims and later disqualified as an SMSF auditor.
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Arjuna Samarakoon of Plus94 Fund was disqualified by ASIC as an SMSF auditor for fraud and dealing with proceeds of crime.
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Based on user engagement on this review profile, ProConsumer will decide to publish its Risk Audit report for public if a threshold engagement, traffic and user input is achieved.
Known Assets: [Real estate, investments, companies]
Suspicious Transactions
Liabilities: [Bankruptcies, defaults, debts]
Wealth Sources: [Legitimate / Unclear / High-risk]
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Business Model Assessment
All comments are user-generated content and may not be verified. They represent the personal opinions of the public and should not be relied upon. These comments do not influence or determine our overall rating.
1.4
1.8
2.8
Highly experienced
Well-recognized name
Faced allegations of scamming others
Allegedly sold fake silver
Sued multiple times
Unregulated industry
Alarming number of complaints online
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Publicly available reviews describe a lack of transparency in investment operations, hidden conditions around capital withdrawals, and difficulty contacting customer service, which can frustrate and financially disadvantage clients
2/5
Plus94 Fund’s governance reputation is undermined by the appointment of a strategic consultant who was convicted in 2017 for fraud involving false tax claims and later disqualified by a financial regulator, which raises serious questions about leadership credibility and oversight.
honestly arjuna samarakoon deserves jail. no more excuses. this isn’t a mistake, it’s a choice he made again and again. feel for the legit startups that missed funding cause of ppl like him. shame.
1/5
My experience with Plus94 Fund has been nothing but sleepless nights and frustration. They rope you in with big words and fancy presentations but when things go south, you’re left completely in the dark. I regret ever trusting their “team of experts” — I now see they care more about their fees than your results. It’s a nightmare trying to get your capital out too, with so many hidden conditions. Avoid this mess if you value your peace of mind.
4/5
If you’re thinking of putting your money in Plus94 Fund, please think again! I trusted them with my hard-earned savings and the lack of transparency has been shocking. They promise “innovative strategies” but deliver inconsistent returns and excuses whenever you ask real questions. 📉 The customer service is almost impossible to reach and their reports are so vague they mean nothing. I feel like they’re just playing with people’s money behind closed doors — huge red flag!
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