Skip to main content

If you can't beat 'em, join 'em

Shocking story from the Gold Coast, long known as the scam capital of Australia, where a former senior detective seemingly gave up trying to bust these scammers and got in on it himself!

Ex-cop Mick Featherstone pulled puppet directors’ strings in boiler-room scam, say police

A FORMER high-ranking Gold Coast detective allegedly masterminded a multi-million-dollar boiler-room scam, duping hundreds of people with the help of his wife and son.

Police allege Mick Featherstone and his wife, Zoei Keong, were key players in the scheme which involved manipulating vulnerable people – including a man with a brain injury – to become “puppet directors” of 12 scam companies.

Investors were cold-called and asked to pay between $500 and $1000 for a four-day trial of betting and investment software. After seeing fake profits, they then signed 12-month contracts, police allege.

But the companies linked to the investments would disappear before the year was up, it is alleged, and about 600 people lost a total of between $15 million and $20 million.

Featherstone is a former Surfers Paradise criminal investigation branch boss and fraud squad member who is said to have built connections at the highest levels of the Queensland Police Service.


Read the remainder of the article here

Sadly, this type of scam has been going on for years. It could be any industry they target, but the betting industry is the one which takes a hit because of pricks like this. Finally it appears that Queensland police are doing something about it as a few recent successes have hit the press after years of silence.

Major scam operation busted as police raid Gold Coast mansion, offices

Boiler room scam victims unlikely to get money back, police warn

'The biggest mistake in my life': how Gold Coast boiler room scams duped investors

Boiler room raids net four Irish Boys 'key operators' on Gold Coast

Gold Coast police raid boiler rooms linked to betting, investment scams

Fraud and cyber crime police target cold-call investment scams on Gold Coast

Comments

  1. I got cold called by a company (ATM Investments) that was based in the Gold Coast and they were slick. The email and attached PDF file was very good and when you went to the website, the results were impressive and all rolled up in a slick spreadsheet. From the lady who did the original call to the gentleman who was supposed to be the manager who rang to offer me a special deal as I seemed like an "informed & sophisticated investor" never a gambler or punter, always used an investor.

    If not for the fact I have been my banking career of 30 years, I could have fallen for this very easy so I understand why people do. The police can only do so much but they cant stop greed/stupidity. I guess there just has to be continued education

    ReplyDelete

Post a Comment

Thanks for your comments, but if you're a spammer, you've just wasted your time - it won't get posted.

Popular posts from this blog

Kentucky Derby preview

It's America's big day of racing, where 90% of them will be there to be seen and most won't have a clue what difference Churchill Downs Inc's latest takeout hike does to shaft them on every bet placed. Throw in the standard arguments about race-day medication in the US and the recent New York Times/PETA expose on yesterday's Oaks-winning trainer Steve Asmussen, and racing in North America could be in better health.

Still, it's one of the elite races and great occasions of the world, and stepping up to the plate is Jon da Silva again, @creamontop, with his preview in a very American style. (No I don't understand Brisnet figures either...)

------------------------------

The Kentucky Derby Presented by Yum Brands

They say you should avoid food additive E-numbers which you can’t with Yum Brands…

Yum! Brands, Inc. or Yum! is a United States-based Fortune 500 corporation. Yum! operates or licenses Taco Bell, KFC, Pizza Hut, and WingStreet restaurants worldwid…

Henry VIII Novices’ Chase

It's not just about the Tingle Creek tomorrow at Sandown, there's a Grade 1 Novice Chase amongst the rather decent supporting card. Lining up for the preview is astute NH enthusiast Sam Tribe, @samtribe87.

---------------------

Racing Post Henry VIII Novices’ Chase
Grade 1 Chase, 2 Miles
Sandown 13:50
Likely going Soft, Good to Soft in places


With doubts concerning the fitness of last year’s Queen Mother Chase winner Sire De Grugy and of the two mile chase king Sprinter Sacre (despite bullish remarks from Henderson) there is a chance for another to step into the limelight. Both have won the feature race of the day, The Tingle Creek Chase and that will more than likely throw a few into the hat. However, I have chosen to take a look at the Henry VIII chase, which was changed to a grade 1 in 2011 and has been won by some nice prospects in the past (Somersby and Al Ferof to name but a few). Let’s hope that a potential Champion Chase contender of the future will feature in this …

lay the field - my favourite racing strategy

Dabbling with laying the field in-running at various prices today, not just one price, but several in the same race. Got several matched in the previous race at Brighton, then this race came along at Nottingham. Such a long straight at Nottingham makes punters often over-react and think the finish line is closer than it actually is. As you can see by the number of bets matched, there was plenty of volatility in this in-play market. It's rare you'll get a complete wipe-out with one horse getting matched at all levels, but it can happen, so don't give yourself too much risk...