Tasmania Police have extradited a 41-year-old man from New South Wales for alleged his role in an elaborate fraud last year.
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Tasmania Police alleged the man claimed to be an investment banker while holidaying in Tasmania in March 2021.
"It is alleged he convinced several Hobart locals to invest $215,000 in a non-existent Texas Oil Company. It is alleged the money was transferred by the unknowing victims into the man's personal account which he used to enhance his facade as a stockbroker," the police statement read.
Detectives from the Glenorchy Criminal Investigation Branch extradited the man on August 19 and charged him with 10 counts of fraud.
The NSW man is "known to police" and will be appearing before the Hobart Magistrates Court today.
Police said that investment scams are commonly used by fraudsters.
"Members of the public should be suspicious of people who offer investment opportunities that promise a high return with little or no risk. Further scam advice can be sought from the Australian Competition and Consumer Commission (ACCC) - Scamwatch."
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