Trading Gone Wrong: Australian Crypto Trader Sentenced for Murdering Mother to Fund Lavish Lifestyle

Man Jailed for Killing Mother in Scheme to Fund Lavish Social Media Lifestyle

An Australian cryptocurrency investor who murdered his mother in a desperate bid for money has been sentenced to 25 years in prison.

Andre Rebelo, 29, was found guilty of killing Colleen Rebelo, 58, at her home in Bicton, Perth, in 2020.

His motive was to cash in on fraudulent life insurance policies he had secretly taken out in her name.

Death Disguised as Natural Causes

Colleen Rebelo’s body was discovered under a running shower on 25 May 2020 by her youngest son, Fabian.

There were no immediate signs of foul play, and the cause of death was never officially determined.

However, suspicions arose when Rebelo attempted to claim life insurance payouts just three days later.

Rebelo had staged the scene to make it appear as though his “fit and healthy” mother had died naturally.

Andre Rebelo murdered his mother, Colleen Rebelo, driven by financial desperation to maintain a facade of success.

In the WA Supreme Court, Justice Bruno Fiannaca told the court,

"The only reasonable inference is that you took your mother by surprise. You staged your mother in the shower to make it look like she had died of natural causes. In doing so, you stripped her of dignity.”

The possibility of asphyxiation, including smothering, could not be ruled out, but the exact cause of death remains unknown.

Life Insurance Fraud Unravels the Murder Plot

Authorities began investigating after an insurance company employee raised concerns over Rebelo’s claim.

It emerged that Rebelo had taken out three life insurance policies in his mother’s name just days before her death.

As the sole beneficiary, he stood to receive over AUD $1 million (around USD $627,000).

Colleen’s therapist, Narina Sidhu, also alerted police after Rebelo persistently contacted her, pressing for the approval of an insurance claim.

His forged documents, including a fake coroner’s report, further exposed his fraudulent scheme.

The Social Media Façade and Mounting Debt

At the time, Rebelo was in a relationship with Instagram influencer Gracie Piscopo, with whom he shares a child.

Andre Rebelo and his former girlfriend, Gracie Piscopo, along with their son, Romeo.

Online, the couple showcased an enviable lifestyle of luxury and wealth.

However, their reality was starkly different—prosecutors revealed they were drowning in debt, owing nearly AUD $100,000 (USD $62,000).

Rebelo had promised Piscopo he would bring in AUD $500,000 from cryptocurrency investments, but in reality, he was struggling financially.

Justice Fiannaca told the court,

“The persona you had created alongside Ms Piscopo was more important to you than your familial connection to your mother.”

Prosecutors argued that Rebelo’s need to maintain the illusion of financial success drove him to commit murder.

His desperation to prove himself and sustain their "plastic existence" online led him to plot against his own mother.

Denials in Court but a ‘Monstrous’ Crime

Throughout his trial, Rebelo denied murdering his mother.

However, he admitted to forging documents, including his mother’s will.

Under questioning, he struggled to explain why he initially failed to mention visiting her on the day she died.

He later claimed she may have taken her own life, insisting this was why he had rushed to claim the insurance payout—because suicide would have voided the policies.

Justice Fiannaca dismissed his explanations, calling the crime "a premeditated offence, a monstrous act that was integral to a fraudulent scheme."

Sentenced on His Birthday, Eligible for Parole in 2047

Rebelo was sentenced on his 29th birthday, with his prison term backdated to November 2022.

He must serve at least 25 years before being eligible for parole in 2047.

His father, Antonio Rebelo, stood by his son after the verdict.

Andre Rebelo’s father, Da Horta Rebelo

He told reporters outside the court,

"We don't really know what happened to his mother, and we still don't know what happened. It's sad for everyone, for all the families involved."

Meanwhile, Piscopo, who was not accused of any wrongdoing, did not attend the sentencing.

Two days prior, she shared an Instagram post from Bali, captioned “paradise.”

The Risk of Cryptocurrency: Wealth or Ruin?

Cryptocurrency has made millionaires overnight, but it has also left many in financial ruin.

The highly volatile nature of digital assets means that fortunes can change in an instant.

While some traders strike gold, others lose everything, falling into crippling debt in the process.

Andre Rebelo’s case is a stark reminder of what happens when financial desperation takes over.

His obsession with maintaining the illusion of success, driven by failed crypto investments and reckless spending, led him to commit an unthinkable crime.

His belief that wealth was just a trade away ultimately cost him his freedom—and his mother’s life.

Trading in cryptocurrency should never be treated as a guaranteed path to riches.

Like gambling, it carries significant risks, and those who overextend themselves may find themselves in a downward spiral of debt and despair.

Responsible trading means knowing when to step back, never investing more than one can afford to lose, and avoiding expectations that could lead to desperation.