Detectives have charged a man with fraud after he allegedly misappropriated almost $200,000 provided as a deposit for a block of land.
Detectives have charged a man with fraud after he allegedly misappropriated almost $200,000 provided as a deposit for a block of land.

Man accused of taking $189,000 for land deposit

DETECTIVES have charged a man with fraud after he allegedly misappropriated almost $200,000 provided as a deposit for a black of land.

Officers today charged the 55-year-old Beaudesert man after a four-month investigation.

"Investigations commenced after police received a complaint from the victim the man had misappropriated $189,000 he had provided as a deposit on a block of land at Terranora in New South Wales," police said in a statement.

"Police will allege the man induced a member of a Gold Coast law firm operating a trust fund for the purchase of the land to transfer the money to him prior to the sale being finalised.

"Consequently, it will be alleged the victim not only lost their money, they were unable to purchase the block of land."

Police said the man was expected to appear in Southport Magistrates Court on January 23.

Detective Superintendent Terry Lawrence of the Financial and Cyber Crime Group said all aspects of the case were being reviewed by investigators.

"This is a large sum of money for anyone to be defrauded of and it is concerning the man was able to manipulate the security of the trust fund," Supt Lawrence said



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