The Crime and Corruption Commission (CCC) has issued two men with Notices to Appear in court for allegedly laundering money derived by a Gold-Coast-based company alleged to be engaged in boiler room investment frauds.
The charges are the result of the CCC’s Operation Lima Violin II, which is investigating boiler room investment frauds alleged to be occurring on the Gold Coast.
The CCC will allege that together, the two men laundered nearly $200,000 generated by the company Lay Trading Solutions Pty Ltd.
The CCC today issued a 43-year-old Broadbeach Waters man and a 67-year-old Southport man with Notices to Appear in court on one charge each of money laundering, contrary to section 400.4 of the Commonwealth Criminal Code. They are both scheduled to appear in the Southport Magistrates Court on 24 September 2015.
The CCC will allege that the 67-year-old man owned several shelf companies and issued invoices to the 43-year-old man for services that were never provided. It will be further alleged that the 43-year-old man, who is an accountant, paid the invoices with funds from Lay Trading Solutions Pty Ltd. It is alleged that the money was then processed through the accounts of the shelf companies, before being withdrawn in cash and returned to the 43-year-old man. Both men allegedly received a share of the profits for laundering the money.
The CCC’s investigation is ongoing.
As these matters are before the court, the CCC will not comment further.
ENDS
