A 52-year-old Gold Coast man has today been arrested and charged following an 11-month investigation conducted by the QPS Financial and Cyber Crime Group, the Queensland Building and Construction Commission and Australian Securities and Investments Commission, Queensland Police say.
Operation Oscar Monkshood involved the investigation of the Directors of the Gold Coast based Members Alliance Group. It is alleged they dishonestly induced victims to deliver over $2.2 million for the construction of houses in Queensland and New South Wales.
The investment scam operated by Members Alliance Group cold calling members of the public across Australia and selling them home and land packages as investment.
The investigation involved building companies owned by the Members Alliance Group, including Image Building Group and Silverback Constructions.
The Members Alliance Group ceased trading in July 2016 and many victims were left without insurance to complete homes.
Today, the 52-year-old man was charged with dishonestly inducing victims to deliver money into accounts he controlled.
"Unfortunately a lot of Australian investors have had their dreams of home ownership shattered by the unscrupulous behavior of those involved in this group. Our investigation and today’s arrest demonstrates the Queensland Police Service’s ongoing commitment to address cold-call investment fraud," Detective Superintendent Terry Lawrence of the Financial and Cyber Crime Group said.
"I would also like to take this opportunity to remind members of our community to be wary of persons calling them to offer investment opportunities. Legitimate, law abiding businesses do not operate in this manner. A cold caller is not operating in your interest, only in the interest of themselves," he said.
For more information on fraud prevention and helpful tips, visit the R U in Control? page at www.mypolice.qld.gov.au/incontrol
If you have information for police, contact Policelink on 131 444 or provide information using the online form 24hrs per day.
You can report information about crime anonymously to Crime Stoppers.
