Finally some sentences dished out in the notorious scam haven of the Gold Coast.
The fraud involved 5 seperate companies selling bogus invesments. Over 400 complaints were received and over $4,000,000 lost.
Congratulations to the FCCG (Fraud and Cyber Crime Group) and ACC (Australian Crime Commission).
The sad part of this though is that it took 5 years to come to this conclusion.
The authorites and policy makers need to have a system in place to act much faster than this, with early warnings, more powers to investigate – earlier, name names, freeze bank accounts. It all happens just far too slowly at present. Everyone knows it’s happening, but hardly anything ever gets done about it while the scams are active.
Thanks to consumerreviewsaustralia.wordpress.com for the head’s up on this article!