SYDNEY, Australia (CNN) - 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 ?
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