A Gold Coast man who allegedly ran a worldwide investment scam well worth nearly $12 million has been charged with 25 fraud offences.
Anthony David Gray, 54, from Paradise Point changed into arrested in New Zealand and extradited to Australia overnight.
Mr Gray has regarded inside the Brisbane Magistrates Court on 25 counts of fraud and did no longer apply for bail.
His arrest follows a year-lengthy investigation, dubbed Operation Quebec Kidback, following a couple of lawsuits from people in Australia and remote places.
Mr Gray’s alleged sufferers relied on his felony and economic advice, delivering masses of lots of bucks in what they thought turned into a legitimate belongings investment scheme.
Police have alleged that between May 2007 and November 2016, Mr Gray — performing as a solicitor and economic planner — ran a bogus belongings funding scheme based totally on quick-time period bridging loans below a number of groups supposedly primarily based in New Zealand, Singapore and Hong Kong.
Mr Gray, whose corporation name turned into Synergy Gray Professional Services, allegedly promised buyers that developers might pay high hobby for finances borrowed over a quick period until the banks funded the developers’ tasks.
Police stated the scheme did no longer exist.
Mr Gray’s co-accused, a seventy two-yr-vintage woman, become arrested at a home on Dornoch Terrace in Highgate Hill on January 31.
She regarded in courtroom on February 25, charged with 9 counts of fraud.
To date, 21 alleged sufferers from Queensland, New South Wales, Victoria, the United Kingdom, the united states and Europe have come ahead with losses totalling $eleven,960,000.
It is claimed one couple misplaced $2,814,416 and some other lady lost $2,1/2,000.
Detective Acting Senior Sergeant Steve Paskin stated police had acquired a similarly six lawsuits in relation to the scheme and believed more alleged sufferers may additionally still come forward.
Asked about the relationship among Mr Gray and his co-accused, Detective Senior Sergeant Paskin stated they have been commercial enterprise companions.
He stated the alleged victims, who have been either recognised to the pair or referred by means of others, had invested their private savings.
“People have doubtlessly lost their entire superannuation savings as a result of this investment scheme,” he said.
It has been alleged Mr Gray had a history in regulation and finance however did now not hold qualifications at the time.
“We’ll allege that the offenders have been no longer qualified to act as solicitors or economic planners and this highlights the significance of wondering extensively each element of a proposed investment,” Detective Senior Sergeant Paskin stated.
