Five on boiler room charges
Detectives on the Gold Coast have charged five people over an alleged ‘boiler room’ fraud they say affected hundreds of people – some of whom police allege lost their livelihoods or relationships as a result.
The Financial and Cyber Crime Group arrested and charged the people as part of Operation Romeo Ecru, which has since October 2019 been investigating alleged cold call investment fraud involving share trading software on the Gold Coast.
In May 2020 search warrants were executed at offices and homes across the Gold Coast where police said they seized a large quantity of documents and equipment indicating that the alleged scheme operated under trading names of ‘Starbrite Traders Pty Ltd’, ‘Digital Sky Systems’, ‘New Vision Products’ and ‘NPL’.
Police said that following a “protracted” investigation it will be alleged that more than $3 million was defrauded from approximately 300 people between 2018 and 2020. Between January 9 and January 19 this year police arrested and charged five people in relation to the alleged investment fraud.
A 60year-old Upper Coomera woman has been charged with money laundering, fraud and personation in general – falsely represent. She is expected to appear at Southport Magistrates Court on March 1.
A 43-year-old Miami man has been charged with one count each of money laundering and fraud and is expected to appear at Southport Magistrate Court on March 19.
A 42-year-old Broadbeach Waters man has been charged with one count each of money laundering and fraud and is expected to appear at Southport Magistrates Court on March 19.
A 28-year-old Upper Coomera woman has been charged with one count of fraud and is expected to appear at Southport Magistrates Court on March 1.
A 43-year-old Paradise Point man has been charged with one count of fraud and is expected to appear at Southport Magistrates Court on March 5.
Detective Inspector Kerry Lofdahl from the Financial Crime Unit encouraged people to do due diligence when parting with their hard-earned money for potential investments.
Members of the public can check if their financial adviser is registered by visiting https:// moneysmart.gov.au/financialadvice/financial-advisersregister