Further major fraud charge in Brisbane, QLD

A 44-year-old man is to appear before the court to face a further charge of major and serious fraud, Queensland Police say.

The Enoggera man was first charged in June of 2018 with one count of major and serious fraud to the amount of $5 million. 

Detectives from State Crime Command’s Financial and Cyber Crime Group this morning issued the man with a notice to appear for a further $5 million investment fraud, bringing the total amount to date of this protracted investigation to $10 million. 

Police will allege the man, the CEO of a real estate development company, accepted the payment of $5 million payment from a second overseas complainant to invest in three Australian investment funds as a part of the program.

Police will further allege the money was not invested as promised and the man had no authority, appropriate licence or credentials to manage investments on behalf of the companies.  

 The man is to appear in the Brisbane Magistrates Court on September 20 2018.  

Previous release below:


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