Five people have been charged over an alleged cold call investment scam operating on the Gold Coast.
It’s alleged the scheme defrauded around 300 people out of more than $3 million between 2018 and 2020.
Police launched a dedicated operation in October 2019 to investigate the scams allegedly occurring from Gold Coast business locations.
It led to multiple raids in May 2020 at business premises and residences where detectives seized a large number of documents and equipment indicating that the fraudulent scheme operated under trading names of ‘Starbrite Traders Pty Ltd’, ‘Digital Sky Systems’, ‘New Vison Products’ and ‘NPL’.
Between January 9 and 19 this year, five people were arrested including two women and three men.
Detective Inspector Kerry Lofdahl from the Financial Crime Unit encouraged people to do their due diligence when parting with their hard-earned money for potential investments.
“Apart from the financial detriment suffered by victims, it was also identified there had been significant harm caused to victims, including loss of livelihoods and impacts on their personal health and relationships,” Detective Inspector Lofdahl says.
“No reputable investment firm will cold-call you, or randomly contact you through online messaging platforms or social media to invest in their product,
“If you cannot explain to another person exactly how your investment works, you should engage the services of a registered financial planner.”
CHARGES:
A 60-year-old Upper Coomera woman has been charged with money laundering, fraud and personation in general – falsely represent.
A 43-year-old Miami man has been charged with one count each of money laundering and fraud.
A 42-year-old Broadbeach Waters man has been charged with one count each of money laundering and fraud.
A 28-year-old Upper Coomera woman has been charged with one count of fraud.
A 43-year-old Paradise Point man has been charged with one count of fraud.
They’ll all front court separately next month.
