CEO of Brisbane real estate development company in court on $5 million fraud charge

THE CEO of a Brisbane real-estate development company will appear in court today, charged with defrauding $5 million from an overseas investor.

The 44-year-old man is alleged to have accepted three significant payments from the investor who was told his money would be put into three separate investments.

It’s alleged the investments, however, never existed and the Brisbane man had no authority, appropriate licence or credentials to manage investments on behalf of companies.


The 44-year-old was charged this morning following a protracted investigation by the State Crime Command’s Financial and Cyber Crime Group.

He was due to appear in Brisbane Magistrates Court later today, charged with one count of fraud (dishonest application of property of another value over $100,000).

Acting Detective Superintendent Peter Brewer of the Financial and Cyber Crime Group has urged all Queenslanders to remain vigilant when investing, to seek independent financial, family and legal advice and carefully consider investment opportunities.

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