Police from State Crime Command have today closed an operation in relation to an alleged $30m cold call investment fraud syndicate involving approximately 2000 victims across Australia.
The two-year operation conducted by the Financial and Cyber Crimes Group focused on a syndicate operating primarily from the Gold Coast. The investigation received significant assistance from the Australian Taxation Office and the Crime and Corruption Commission.
Today officers from the group executed search warrants on residences and businesses on the Gold Coast, and one residence and business in Brisbane. Assistance was also provided by officers from the Australian Taxation Office, Office of Fair Trading and the Australian Securities and Investments Commission.
Five people have been charged including four men aged in their 30’s and 40’s and a 41-year-old woman.
It is alleged the five arrested were either the principal players behind the scam or involved in the laundering of victims’ money.
The scam involved high pressure sales
Skip to content
News and other stories about real people, places, and events in Kenmore and nearby suburbs.