Seven Victorians have been charged for their alleged role in an international investment scam which swindled unsuspecting victims out of more than $14 million.
Police will allege the group was hired by an international syndicate to open fraudulent businesses and bank accounts with various local financial institutions in order to make the scam look more legitimate.
Overseas scammers – who purport to be bank officials and stockbrokers – allegedly used the local bank accounts to trick victims into believing they were depositing their life savings into fixed-term deposits or purchasing shares through a brokerage.
Police will allege the seven Victorian-based mules, who managed the fraudulent bank accounts, moved more than $14 million offshore between August 2022 and February 2024 and received commissions in return.
Investigators have so far identified 30 victims, from across Australia, who lost millions to the alleged scam.
This includes a 56-year-old ACT woman who unknowingly transferred $1.6 million to a fraudulent account in February 2024.
An 86-year-old Melbourne woman lost $400,000 the same way in July 2023.
Detectives from the Banyule-Nillumbik Crime Investigation Unit – who began investigating more than a year ago – have arrested and charged seven people over the last nine months.
They include:
• A 45-year-old Watsonia woman
• A 45-year-old Watsonia man
• A 51-year-old Preston man
• A 50-year-old Point Cook man
• A 45-year-old Hawthorn man
• A 44-year-old Reservoir man
• A 46-year-old Heidelberg Heights man
All have been charged with knowingly deal with the proceeds of crime, negligently deal with the proceeds of crime and dealing with property suspected of being the proceeds of crime.
The Watsonia pair were remanded, while the rest were bailed or charged on summons.
All will appear before Melbourne Magistrates’ Court on 26 September 2024.
The investigation into the Victorian offending remains ongoing.
Anyone with any information on scam activity is urged to contact Crime Stoppers on 1800 333 000 or make a confidential report at www.crimestoppersvic.com.au
If you have been the victim of cybercrime, call your local police station or report the matter at through the ReportCyber platform.
Your report will then be transferred to the appropriate police jurisdiction for assessment.
Quotes attributable to ND5 Investigation and Response Manager, Inspector Timothy Cron:
“It is beyond devastating for innocent victims to be allegedly scammed out of their life savings.
“To anyone thinking of making a quick dollar by taking part in these scams – know that what you’re doing is a crime and you will be held to account.”
