Vincenzo Joseph Vocisano charged with dishonestly obtain financial advantage, cause disadvantage by deception

A man who allegedly parked millions of dollars from mum and dad investors into his gambling platforms is before Tweed Heads Local Court. What we know.

Tweed Heads Courthouse. Picture: David Bonaddio

A man charged with diverting around $25 million from ‘mum and dad’ investors was mentioned in Tweed Heads Local Court today.

Vincenzo Joseph Vocisano, 40, was taken into custody on Monday by detectives attached to Queensland Police’s Coomera criminal investigation bureau after a warrant was issued for his arrest.

The Sydney Forex trader is charged with dishonestly obtain financial advantage, cause disadvantage by deception.

Police will allege that between January 1, 2020 and July 25, 2022, Vocisano obtained funds from investors totalling approximately $30 million.

The funds were obtained for the purpose of investing in foreign exchange (Forex).

Police will further allege Vocisano obtained the financial advantage and used approximately $24.8 million of the investors’ funds in his personal gambling platforms which he was not authorised to do.

Just some $2.4 million was invested on Forex trading platforms, court documents state.

Detectives attached to Camden Police Area Command in Sydney’s southwest established Strike Force Wooroonga after receiving a report in July last year that a local businessman had allegedly misappropriated his clients’ investments.

When Vocisano appeared in the Southport Watchhouse yesterday, NSW Police detectives successfully applied for his extradition.

Crime Manager Detective Chief Inspector Paul Albury said they will be alleging in court the man targeted ‘mum and dad-type’ investors as well as other business owners.

“This arrest is the result of almost a year’s persistence and hard work by the Camden PAC detectives, assisted by our colleagues in the Queensland Police Service,” Mr Albury said.

He encouraged anyone who had similar concerns to contact police.

Vocisano is due to appear via audio visual link in Campbelltown Local Court on Wednesday May 17.

Bail was refused by the court and he remains in custody.