Thread: 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.

Originally Posted by littleroundman

"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.

That was the key to picking this as a scam.....

Originally Posted by littleroundman

Police smash organised investment scam on Gold Coast
The fraudsters use sophisticated websites and target Australians who are approaching retirement looking for investment opportunities.

You have some products which would be treasure to Londoners but postage and packing would present some problems. We have plenty of new buildings set amongst beautiful listed ones. It takes years for nature to mellow the brick wall unless you have a good suppy of the right "paint" which is 1 part cow dung mixed with 8 parts water! You see the first mosses and litchens in a couple of weeks and within a year "The Cow Dung Fairy" has weaved her magnificent designs all over your new garage or walled garden. Horse dung which you can buy in London garden centres is no substitute. The only other thing which is as good is rhinocerous dung!

Any retired Aussie on walkabout with a sack full could make enough to keep him or her in bed and breakfast for a few weeks.