Coinspeaker
Australian Police Charge Four Men in Gold Coast Crypto Money Laundering Case
Authorities have charged four people from Crypto Advisers Australia, Strategic Capital, Active Marketing Solutions, and Alternative Capital for allegedly defrauding $1.5 million from 30 investors in Australia. According to a local news report, police charged the individuals with one count of money laundering each after investigations revealed that they were involved in a scam.
A Failed Operation
Australian police claimed that the defendants including Harry Omeros, Vicky Omeros, and Kristy Sleep, were involved in a cold-call operation, enticing investors with investment opportunities that eventually led to their loss of funds.
The quartet then laundered the scam’s proceeds through cryptocurrencies, precious metals, luxury cars, and real estate, hoping to conceal the source of the stolen funds.
However, they ran out of luck when detectives from the Financial and Cyber Crime Group Money Laundering Unit opened an investigation against the companies and discovered that they were involved in a “Ponzi scheme” and “identity takeovers” that siphoned more than a million dollars from investors.
The investigation, Operation Uniform Tapenade, lasted for 18 months. During this period, the police found that the defendants started the scheme in 2018 and lasted until 2021.
Australian Authorities Warn the Public
The case has been adjourned for a hearing at the Australian Magistrate Court next month on May 9. However, while all the defendants were charged with one count of money laundering, one of their co-conspirators is facing four counts of fraud in addition to the money laundering.
The man with multiple charges had previously appeared before the Brisbane Magistrates Court in March for separate crimes, and he is expected to face the court again on May 27 to answer for his crimes.
In light of recent events, Detective Acting Inspector Steve Paskin warned the public about such investment opportunities and urged people to exercise caution when making investments. He emphasized the importance of conducting due diligence before investing and highlighted the old adage that if an investment opportunity seems too good to be true, it is likely a scam.
“People should seek professional advice from a registered financial planner to understand the legitimacy of the investment, their expected returns, and the risks involved,” he said.
Investment Scams on the Rise
Meanwhile, these warnings coincide with revelations from the Australian consumer watchdog last week, revealing that Australians suffered losses amounting to $2.74 billion due to scams in 2023.
The Australian Competition and Consumer Commission said the figure represented a 13.1% decrease from the previous year. Despite the decline, the consumer authorities saw an alarming 18.5% increase in reported scams, reaching a total of 601,000 cases compared to 2022. The figure shows that investment schemes in Australia are on the rise.
Australian Police Charge Four Men in Gold Coast Crypto Money Laundering Case
