A 44-year-old Brisbane man has been charged today following a protracted investigation into a $5million investment fraud, Queensland Police say.
The man was today charged by detectives from State Crime Command’s Financial and Cyber Crime Group.
It is alleged the man, the CEO of a real estate development company, accepted three significant payments (totalling $5million) from an overseas investor.
It is alleged the overseas man was told the money would be invested into three separate investments. Police will allege the investments did not exist at the time the money was accepted and the man had no authority, appropriate licence or credentials to manage investments on behalf of the companies.
Acting Detective Superintendent Peter Brewer of the Financial and Cyber Crime Group urged all Queenslanders to remain vigilant when investing, to seek independent financial, family and legal advice and carefully consider investment opportunities.
The man has been charged with one count of fraud (dishonest application of property of another value over $100,000) and is due to appear in the Brisbane Magistrates Court today.
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