Criminal Proceeds Squad detectives have charged a 64-year-old Altona man and seized two luxury vehicles following an investigation into fraud and unexplained wealth.
Police executed two warrants at Altona properties on Monday, August 8, as well as a warrant at a Laverton property, two warrants at Sea Lake properties and a warrant at a Woomelang property.
Police have alleged that the Altona man fabricated documents, emails and text messages to induce each of his victims to invest into a fraudulent investment scheme, obtaining in excess of $1 million from multiple victims.
Police have charged the man with obtaining financial advantage by deception and knowingly dealing with the proceeds of crime.
Detectives have alleged the man engaged a co-offender to impersonate and take on the identity of a lawyer in order to further legitimise his scam to his victims, with the man then using the money given to him by each of his victims for personal financial gain.
Police have also begun investigations into charging the man with fraudulently inducing a person to invest.
Detectives have alleged that at the time of his arrest, the man had started conversations with further potential victims in relation to a separate fraudulent investment scheme.
Investigators seized a BMW X5, a Mercedes-Benz AMG and a high end commercial coffee machine as part of the investigation.
Criminal Proceeds Squad Detective Inspector Jennifer Locke said the investigation commenced in December 2021, when police received information related to unexplained wealth.
“This is a significant result and one that highlights the contemporary and malicious nature of fraud and deception related offending.
“These are incredibly serious offences and can have life changing consequences for the victims.
“Targeting some of the most vulnerable is heartless offending and we will absolutely continue to target offenders and hold them to account.”
Police have released a 41-year-old Laverton man pending further inquiries.
