Detectives from the Financial and Cyber Crime Group, State Crime Command, charged three men and two women during May and August 2019 with fraud and money laundering following a protracted cold call investment fraud investigation known as Operation Quebec Walnut.
Detectives investigated an alleged criminal syndicate which operated a number of businesses selling cryptocurrency investments on the Gold Coast between 2017 and May 2019. It will be alleged over 100 Australian based victims were tricked into thinking their investments of more than $2.7 million had produced a significant profit which never existed.
From 2017 victims were contacted with the opportunity to invest in Exmount Holdings Group, a legitimate appearing company with a website, call centre (with 1300 telephone numbers), and sales staff .
Other companies and websites attached to this scam included "Exmount Holdings Ltd", "The Quid Pro Quo Foundation", "The Atlas Group", "AFG Associates Pty Ltd", "tradex123", "exmounttrading", "atlasfxgroup" and "amazonqus".
Victims were offered a trial investment, with the promise of generous returns once they had invested more funds. Victims were provided unique log-in details for the website where they could watch their initial investment grow over the trial period.
"When victims attempted to withdraw their capital, they could not. Their money had gone and any attempt they made to contact one of the companies or their staff was unsuccessful," Detective Superintendent Terry Lawrence of the State Crime Command's Financial and Cyber Crime Group said.
During the operation detectives from the Financial and Cyber Crime Group executed a number of search warrants and charged three men aged 56, 44 and 33 years and two women aged 28 and 21 years from the Gold Coast with fraud and money laundering. These five persons are also alleged to have been participants in a criminal organisation. The 56-year-old man was also charged with two counts of unlawful use of a motor vehicle. The persons are to appear before the Southport Magistrates Court in separate appearance on 9 August, 22 August and 5 November.
"While these arrests are significant and a step forward in a complex and protracted investigation, we are continuing to conduct enquiries. We would like to speak with anyone who feels they may have fallen victim to this criminal activity or may have information that could assist our enquiries.
"The Financial and Cyber Crime Group continue efforts to investigate and disrupt serious and organised fraud impacting on the community of Queensland.
"We ask the community to remain resilient against this type of offending. Always be wary of and maintain control of your finances. Ask yourself if you are in control of these transactions, be wary of any unsolicited telephone calls or emails offering investment opportunities and seek independent advice from friends, family or financial advisors," Detective Superintendent Terry Lawrence of the Financial and Cyber Crime Group said.
Members of the public can learn about scams at www.scamwatch.gov.au or the Queensland Police Service's R U in Control campaign at mypolice.qld.gov.au/RUincontrol.
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, a registered charity and community volunteer organisation, by calling 1800 333 000 or via crimestoppersqld.com.au 24hrs per day.
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