Man charged over $800k online investment scams


A man who allegedly duped Victorians out of more than $800,000 through online investment scams has been charged.

Port Phillip crime investigation unit detectives arrested the 63-year-old on Tuesday after raiding a home on Arlington Street at Portarlington on the Bellarine Peninsula.

The man allegedly stole money from his victims through online scams by creating fake websites purporting to be legitimate financial institutions.

The websites offered investment opportunities between June and September 2022, and after people handed over their details online, a person purporting to be from the institution contacted them, Victoria Police said.

The victims were allegedly duped into signing up to fake investment opportunities including term deposits and treasury bonds and were told to forward their money to an Australian bank account.

The victims' money was stolen once it reached the bank account, police said.

Officers charged the man with five counts of obtaining property by deception and five counts of possessing the proceeds of crime.

He was granted bail to appear in Melbourne Magistrates Court on September 25.

Police urged anyone with information about the scams to come forward.