Gold Coast man charged over million dollar cold-call investment scam

A Gold Coast man has today been arrested and charged over a multi-million dollar cold call property investment scam .

The 52-year-old was taken into custody at a location on the Gold Coast following an 11-month investigation into the Directors of the Gold Coast based Members Alliance Group.

Police say it’s alleged the man dishonestly induced victims to deliver over $2.2 million for the construction of houses in Queensland and New South Wales.


ARTICLE CONTINUES AFTER THIS ADVERTISEMENT


The investment scam, operated by Members Alliance Group,  involved cold calling members of the public across Australia and selling them home and land packages as investment.

The investigation involved building companies owned by the Members Alliance Group, including Image Building Group and Silverback Constructions.

The Members Alliance Group stopped trading in July 2016 and many victims were left without insurance to complete homes.

Today, the 52-year-old man was charged with dishonestly inducing victims to deliver money into accounts he controlled.

Detective Superintendent Terry Lawrence of the Financial and Cyber Crime Group said he was pleased with today’s result.

“Unfortunately a lot of Australian investors have had their dreams of home ownership shattered by the unscrupulous behavior of those involved in this group,” Detective Superintendent Lawrence  said.

“Our investigation and today’s arrest demonstrates the Queensland Police Service’s ongoing commitment to address cold-call investment fraud,”

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments