It is not the best week for us Irish in Oz! An alleged crime gang known as the ‘Irish Boys’ netted at least AUS$4m from a “boiler room” investment scam on the Gold Coast in Australia.
The four alleged ringleaders of the syndicate, known as “Irish Boys”, will appear in the Southport Magistrates Court on Tuesday, with a further two to face court in September.
The CCC allege that ‘Irish Boys’ gang has defrauded millions of dollars from victims in a ‘boiler room’ investment scam.
Operation Unwind has been running for months in conjunction with another CCC-Queensland police operation called Lima Violin II.
Australia’s Crime and Corruption Commission (CCC) claim the gang are involved in a major investment scam and have swindled millions of dollars.
The Lima Violin II probe is ongoing. Acting executive director of crime Michael Scott said customers were told it would allow them to bet legitimately on both sides of two-sided sporting contests.
It will be alleged telemarketers used false information to convince more than 150 victims to buy fraudulent computer software and to invest in bogus financial management schemes.
The alleged managers of the scam who’re aged 36, 34, 33 and 32, will reportedly be formally charged with fraud on Monday.
Police have said that the fraudsters have netted at least AUS$4 million in 18 months, but the true figure could be as high a AUS$11 million with over 150 victims reported.