Queensland Police have charged four people over an alleged $1.5 million cryptocurrency investment fraud operating on the Gold Coast.
Detectives from the Financial and Cyber Crime Group Money Laundering Unit first began investigating in July 2022, focused on alleged fraud and money laundering by companies including Crypto Advisers Australia , Strategic Capital , Active Marketing Solutions , and Alternative Capital .
Following investigations, a 46-year-old North Brisbane man was charged with four counts of fraud and one count of knowingly money laundering, first appearing at Brisbane Magistrates Court on March 25 and expected to return to the same court on May 27. Police allege those behind the fraud then moved more than $1.5 million in funds through cryptocurrency, precious metals, luxury motor vehicles, and real estate in order to hide the the origins of the money.
"We understand people are keen to invest in financial products that can see a quick return in the current economic environment, however prospective consumers should always do due diligence before investing in any product," he said.
Financial And Cyber Crime Group Money Laundering U Gold Coast Money Laundering Strategic Capital Craig Mcgrath Crypto Advisers Australia Queensland Police Brisbane Magistrates Court Investment Fraud Steve Paskin Scams Southport Magistrates Court Cryptocurrency Fraud Alternative Capital Queensland
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