Home Business Former detective in court over fraud scam

Former detective in court over fraud scam

2

A former director of software companies that were part of an alleged telemarketing scam says he accepted the job after being swindled out of compensation for a brain injury.

But John Kane later realised he had “been used and groomed” by former detective Michael John Featherstone, he told a Brisbane court on Thursday.

Mr Kane was testifying in the committal hearing of Michael Featherstone and his son Zach.

The pair are charged with fraud and money laundering over their involvement in an alleged scam the prosecution argues raked in millions of dollars from hundreds of victims in 2013 and 2014.

It is alleged the scammers ran a call centre, referred to as a boiler room by police, involving sales people pressuring unsuspecting victims to invest money thinking they would make good returns.

Victims were allegedly cold called and offered investments in products or packages that did not exist.

Police allege companies would disappear to be rebranded and replaced by…

Click here for full article…www.perthnow.com.au