Gold Coast detectives have charged a 63-year-old man following a protracted fraud investigation where victims were allegedly scammed into handing over almost $600,000.
It will be alleged between January 2010 and November 2014, the man dishonestly operated a loans business where he approached victims and promised high rates of returns as part of investment opportunities.
He allegedly obtained a combined total of $594,000 from five Gold Coast victims.
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A 63-year-old Runaway Bay man has been charged with five counts of fraud and one count each of stealing and passing a cheque not met on presentation.
He is due to appear in Southport Magistrates Court today.
Investigators believe there could be further victims connected to this matter and are urging anyone who believes they have been targeted to report the matter to police.