Accused $1m Queensland fraudster Daniel Farook Ali, 52, collared in Europe
A fugitive strike team has collared an accused Queensland fraudster living in Europe after alleging using nearly $1 million in investor funds to buy luxury cars and real estate.
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A fugitive strike team has collared an accused Queensland fraudster living in Europe after alleging using nearly $1 million in investor funds to buy luxury cars and real estate.
Unlicensed foreign exchange trader Daniel Farook Ali, 52, faced Brisbane Magistrates Court yesterday on eight counts of fraud totalling $977,000.
The Australian Securities and Investments Commission allege Ali dishonestly used funds provided to him by investors for unauthorised purposes, including to buy real estate and luxury cars for his family members and related companies, and to pay returns to other investors between May 2016 and November 2017.
ASIC alleges that, in some cases, the funds provided to Mr Ali by investors had come from investors’ self-managed superannuation accounts.
Ali departed Australia on 8 May 2018, in the midst of ongoing civil proceedings commenced by ASIC against him and during an ongoing investigation into his conduct.
Investigations by the Australian Federal Police’s Fugitive Apprehension Strike Team identified Ali as living in Ukraine in 2019.
An arrest was issued by a Queensland magistrate in December 2020.
He was subsequently arrested by Polish authorities in November 2021 when he travelled to Warsaw.
Following Australia’s request for Ali’s extradition, the Polish Government granted his extradition in July 2022 after Mr Ali consented to being extradited.
AFP Superintendent Transnational Operations Jared Taggart said the arrest showed the strong partnership between Australian and international authorities to bring offenders to justice.
“These operations demonstrate the co-operation between Australian and international authorities and serve as a warning to those who think they can hide overseas, you are not untouchable and the Australian Government will not stop looking for you,” Superintendent Taggart said.
Ali was refused bail and the matter adjourned to September 2.
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