Detectives from the Glenorchy Criminal Investigation Branch have today extradited a 41-year-old man from Penrith, New South Wales, relating to a series of frauds that occurred in Hobart in March 2021. 

The man has been charged with 10 counts of Fraud that occurred whilst he was holidaying in Tasmania and claiming to being an investment banker. 

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 NSW man is a serial fraudster who has numerous convictions for similar offending in several States of Australia. 

The man will appear before the Hobart Magistrates Court today. 

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 & Consumer Commission (ACCC) – Scamwatch.