Man charged over alleged multi-million-dollar bogus property investment scheme

A Gold Coast man who allegedly ran a global investment scam worth almost $12 million has been charged with 25 fraud offences. Mr Gray's alleged victims trusted his legal and financial advice, handing over hundreds of thousands of dollars in what they thought was a sound property investment scheme. Police have alleged that between May 2007 and November 2016, Mr Gray — acting as a solicitor and financial planner — ran a bogus property investment scheme based on short-term bridging loans under a number of companies supposedly based in New Zealand, Singapore and Hong Kong. Detective Acting Senior Sergeant Steve Paskin said police had received a further six complaints in relation to the scheme and believed more alleged victims may still come forward. "We'll allege that the offenders were not qualified to act as solicitors or financial planners and this highlights the importance of questioning broadly each element of a proposed investment," Detective Senior Sergeant Paskin said.