An American national who was allegedly involved in scamming millions of dollars from would-be investors, including retirees, through fake bonds has been charged in Sydney.
In March this year, detectives from Kings Cross Police Area Command established Strike Force Tallagandra to investigate reports of a fixed bond investment scam.
Investigations revealed a man operating from NSW had allegedly received more than $2.8 million dollars from 14 would-be investors – many of them retirees – before funnelling the money into Bitcoin, between March and August this year.
Police were told the would-be investors were duped into investing in fake bonds, mainly through self-managed super funds, by scammers posing as trusted financial institutions.
Following extensive investigations, Strike Force Tallagandra detectives, with assistance from the State Crime Command’s Financial Crimes Squad and Cybercrime Squad, executed a search warrant at a unit on Cowper Wharf Roadway, Woolloomooloo, from 9.30am yesterday (Friday 12 November 2021).
During the search, officers seized electronic devices and documentation, which will undergo further examination.
About 5.45pm, a 52-year-old man was arrested at Kings Cross Police Station, where he was charged with 13 counts of obtain benefit by deception and 13 counts of reckless deal with proceeds of crime.
He was refused bail and is due to appear at the Parramatta Bail Court today (Saturday 13 November 2021).