Police smash organised investment scam on Gold Coast
Police smash organised investment scam on Gold Coast
AUTHORITIES have shut down a Gold Coast call centre allegedly at the heart of an investment scam.
In a joint operation with the Australian Crime Commission (ACC) and the Australian Securities and Investments Commission (ASIC), police also searched multiple premises on the Gold Coast yesterday.
No charges have been laid but police are urging anyone who has received unsolicited contact from a company known as West Trade or Atlas Lead Generation to contact them.
ASIC Commissioner Peter Kell said investment scams were once typically based offshore but are increasingly operating locally.
"These fraudsters operate without Australian financial services licences and use false addresses and phone lines often routed to another address," he said in a statement.
A similar scam on the Gold Coast was shut down last month but not before it duped more than 20 investors out of about $250,000, he said.
The fraudsters use sophisticated websites and target Australians who are approaching retirement looking for investment opportunities.
An estimated 2400 Australians had lost more than $93 million in such schemes, the ACC said.
The only thing necessary for the triumph of evil is for good men to do nothing
Bookmarks