Australian Investment Fraud Syndicate Discovered
An alleged $30 million Australian investment fraud syndicate was uncovered and shut down. After a two-year investigation, Australian police have shut down the Australian investment fraud syndicate that allegedly preyed on over 2,000 victims across Australia.
The three-year scam involved cold calling people with high-pressure sales tactics and offering them large returns on market investments. It was supported by websites containing fake information about the products and companies being sold.
Once victim’s money was obtained, the scammers laundered it through other victims, earmarking the money as the ‘returns’ on market investments, only to be reinvested in the scam.
The investigation was completed by the State Crime Command and culminated in raids on homes and businesses on the Gold Coast, in addition to one residence and business in Brisbane. Four men and one woman have been charged.
Have You Been a Victim of Investment Fraud?
If you are the victim of investment fraud or believe you have been scammed, you may have certain legal rights that require your immediate attention.
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If you are looking for an attorney to review your rights and options, the securities lawyers at Dimond Kaplan & Rothstein, P.A. have recovered more than $100 million from banks and brokerages firms for their wrongful actions.