Three charged over money laundering – investment fraud


Three people have today been charged for their alleged involvement in a Gold Coast cold call investment fraud that has left 64 victims with a combined loss of over $1.5million…

Police allege the scam involved victims being cold called by telemarketers and offered an opportunity to invest in an index trading scheme which promised a return on their investment after an agreed period of time.

“Victims who invested were allegedly offered access to a website where they could track their “investment” and balance. We will allege these balances were manipulated to show a false profit,” Detective Superintendent Brian Hay said.

“These types of frauds are well organised and people can fall victim quite easily. Quite often potential candidates are sent website links or told to go and conduct their own research on the internet by the scammers in order to prove the “investment’s” authenticity. These fraudsters spend money paying for ads on legitimate financial sites or publications and pay for their websites to appear at the top of the list after found using a search engine.

“These types of criminal operations are referred to as “boiler rooms”, rooms of telephone operators calling potential investors and offering once in a lifetime investment opportunities. These are frauds, plain and simple. People lose their money, there is no investment or return,” he said.

Queensland Police service press release link: click here