Michael H... - Sunken treasure scheme scuttled

Australian police have arrested a man over a Southeast Asia sunken treasure scheme that promised huge returns to investors

March 18, 2004

Christopher Paul Woolgrove, 40, was arrested in the Australian city of Brisbane Thursday after a joint investigation by the Australian Federal Police and the corporate regulator, the Australian Securities & Investments Commission.

They allege Woolgrove ran an unregistered investment scheme known as the Hatcher Unit Trust, to raise money to fund the recovery of treasure from shipwrecks in Southeast Asia..

@ Fraud ?

@ Treasure traps band of hunters