Mrunal Parekh: Gold Coast man faces court over alleged $283k 2005 boiler room scam

A man who allegedly stole $283,000 as part of a cold-calling scheme was not charged for more than a decade.

A FORMER betting company director allegedly took more than $283,000 of his client’s money and used it for himself as part of a boiler room scheme, a court was told yesterday.

Mrunal Narendra Parekh has not entered a plea to multiple charges in the Southport Magistrates Court, including money laundering and fraud.

The court was told the cash was allegedly taken between June 21 and November 8, 2005.

Parekh was not charged until 2017.

Mrunal Narenda Parekh looked calm arriving at the Southport courthouse. Picture: Glenn Hampson

He’s accused of money laundering offences. Picture: Glenn Hampson

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It is alleged Parekh was the director of Sports International Investment Corporation which cold-called people and enticed them into investment schemes.

Clients were told their money would be used in international mining ventures and sporting events, it is alleged.

Mark Henderson, who ran the company, and the company’s principal salesman Michael O’Hara were both convicted of fraud in 2010.

The court was told Parekh had been a director of the company but resigned in September 2005.

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He did not give up control of the accounts until November 2005.

Lead investigator Senior Constable Leslie Montgomery said there was a delay in the investigation after she left the fraud squad in 2010.

She was placed back on the investigation in 2015 and took two years to continue going through documents.

The committal hearing with continue today.