Melbourne Man Charged in Multi-Million Dollar Property Investment Scam

A Melbourne man charged with 49 offenses for a multi-million dollar property investment fraud scheme that spanned over a decade, affecting 26 victims who lost up to $2.1 million each.

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Melbourne Man Charged in Multi-Million Dollar Property Investment Scam

Melbourne Man Charged in Multi-Million Dollar Property Investment Scam

A 51-year-old man from Melbourne has been charged with 49 offenses in connection with a multi-million dollar property investment fraud scheme that spanned over a decade. The alleged scam affected 26 victims who lost between $20,000 and $2.1 million each.

According to police, the man, identified as Craig Graham Heath, a country music singer who claimed to have worked with Keith Urban, approached people offering to assist in knocking down their homes. He then convinced them to hand over funds to build townhouses in their place, promising lucrative returns. However, the developments were bought out by other investors without the building works proceeding, and Heath allegedly made off with the cash from both the original property owners and the new investors.

Why this matters: Investment fraud schemes can have devastating financial and emotional consequences for victims. This case highlights the importance of due diligence when considering property investments and the need for increased awareness and protection against fraudulent activities in the real estate sector.

The alleged real estate investment fraud took place over a period of 12 years, with Heath accused of using false documents and obtaining financial advantage by deception. He has also been charged with possessing a drug of dependence.

One of the alleged victims lost $2.1 million in the scam. "The singer is accused of running a multi-million dollar property development investment scam that affected dozens of investors in 2024," stated a police spokesperson.

Heath has been released on bail and is scheduled to appear in the Melbourne Magistrates' Court on June 13, 2024. Detectives have urged anyone with information about Heath or the fraudulent activity to come forward.

Key Takeaways

  • 51-year-old Melbourne man charged with 49 offenses in $20K-$2.1M property fraud scheme
  • Alleged scammer, a country singer, convinced victims to fund townhouse developments that never materialized
  • Fraud affected 26 victims over 12 years, with one losing $2.1M; accused of using false documents
  • Importance of due diligence and awareness to protect against real estate investment fraud
  • Accused released on bail, police urge anyone with information to come forward