Gold Coast Man Arrested Over Cold Call Investment Scam

52-year-old man charged

Gold Coast Man Arrested Over Cold Call Investment Scam

A 52-year-old Gold Coast man has been arrested and charged following an 11-month investigation into a large-scale cold call investment scam.

Operation Oscar Monkshood looked into the directors of the Gold Coast based Members Alliance Group.

Investigators will allege the group cold called members of the public across Australia, selling them home and land packages in Queensland and New South, earning more than $2.2 million all up.

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

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

“Unfortunately a lot of Australian investors have had their dreams of home ownership shattered by the unscrupulous behavior of those involved in this group," said Detective Superintendent Terry Lawrence of the Financial and Cyber Crime Group.