Detectives from the Financial and Cyber Crime Group Money Laundering Unit have charged four people in relation to an alleged 'boiler room' investment fraud operating on the Gold Coast.
Operation Uniform Tapenade commenced in July 2022 to investigate cold call investment fraud, which included alleged crypto currency investments and subsequent money laundering on the Gold Coast.
Investigations focused on the fraudulent activity of companies including 'Crypto Advisers Australia', 'Strategic Capital', 'Active Marketing Solutions' and 'Alternative Capital' in relation to crypto currency investment frauds.
Following extensive investigations, it will be alleged the company defrauded over $1.5 million from approximately 30 people between 2018 and 2021 utilising a Ponzi scheme method and identity take-overs.
It will be further alleged that the offenders moved illicit funds through crypto currency, precious metals, luxury motor vehicles and real estate to conceal the source of the illicit funds.
On March 11 and 12, police arrested and charged four people in relation to fraud and money laundering.
A 36-year-old Gold Coast man has been charged with one count of money laundering. He is expected to appear at Southport Magistrates Court today, April 29.
A 63-year-old Gold Coast woman has been charged with one count of money laundering. She is expected to appear at Southport Magistrates Court today, April 29.
A 37-year-old Gold Coast woman has been charged with one count of money laundering. She is expected to appear at Southport Magistrates Court today, April 29.
A 46-year-old North Brisbane man has been charged with four counts of fraud and one count of money laundering - knowingly. He first appeared at Brisbane Magistrates Court on March 25 and is expected to next appear on May 27.
Detective Acting Inspector Steve Paskin said if an investment opportunity seems too good to be true, then it probably isn't legitimate.
"We understand people are keen to invest in financial products that can see a quick return in the current economic environment, however prospective consumers should always do due diligence before investing in any product," Detective Acting Inspector Paskin said.
"People should seek professional advice from a registered financial planner to understand the legitimacy of the investment, what their expected returns are, and the risk involved."
Members of the public can check if their financial adviser is registered by visiting https://moneysmart.gov.au/financial-advice/financial-advisers-register.
