'Irish Boys' gang accused of multi-million-dollar scam on Australia’s Gold Coast

Members of an alleged crime syndicate known as “The Irish Boys” have been accused of a AUS$4m investment scam.

'Irish Boys' gang accused of multi-million-dollar scam on Australia’s Gold Coast

Members of an alleged crime syndicate known as “The Irish Boys” have been accused of a AUS$4m investment scam.

The group consists of four men aged between 32 and 36, which is understood to include two Irishmen.

It is alleged that they operated high-pressure sales offices, known as “boiler rooms”, which would sel investment software by cold-call potential customers.

They were arrested in a series of raids following a five-month investigation by the Crime and Corruption Commission (CCC) and Queensland police.

“We will allege this syndicate operated in an organised manner and we believe their primary motive was to defraud money from the public,’’ said CCC’s acting head of crime operations, Michael Scott.

“The law enforcement action today will stop more Australians from falling victim to these bogus investment schemes. To date, we have identified over 150 victims but believe there are more.

“The CCC will allege that these active boiler rooms sold fraudulent computer software and managed investment schemes.

“The companies behind this syndicate used techniques to deceive people including the use of virtual offices, false identities, fake receptionists and fake testimonials.”

More in this section

Lunchtime News Wrap

A lunchtime summary of content highlights on the Irish Examiner website. Delivered at 1pm each day.

Sign up