Four individuals have been arrested and charged in connection with an alleged cryptocurrency investment scam on the Gold Coast, according to Queensland Police. The investigation, led by the Financial and Cyber Crime Group Money Laundering Unit, began in July 2022. Companies suspected of fraudulent and money laundering activities, including Crypto Advisers Australia, Strategic Capital, Active Marketing Solutions, and Alternative Capital, were targeted in the operation. The breakthrough in the case occurred on March 11 and 12, with two men and two women being apprehended. Prior to the arrests, search warrants were executed at multiple locations across the Gold Coast. A 46-year-old man from North Brisbane was charged with four counts of fraud and one count of money laundering. He appeared at Brisbane Magistrates Court on March 25 and is expected to return on May 27. A 36-year-old man from the Gold Coast, a 37-year-old woman, and a 63-year-old woman were each charged with one count of money laundering and are scheduled to appear before Southport Magistrates Court on April 29. The group is accused of operating a Ponzi scheme and defrauding approximately 30 victims between 2018 and 2021. The perpetrators allegedly laundered over $1.5 million through various means, including cryptocurrencies, precious metals, luxury vehicles, and real estate, in an attempt to conceal the illegal origin of the funds. Cryptocurrency has faced increased scrutiny in Australia, with regulatory authorities taking measures to improve oversight and address potential vulnerabilities in the system.
