Reece Adam, Khan Bo-Dene Ratima among five charged over alleged boiler room fraud

The identities of the final two members of the group of five allegedly involved in a multimillion-dollar fraud scheme on the Gold Coast have been revealed in court. FULL DETAILS

The final two people charged with being involved in an alleged $3m boiler room fraud scheme on the Gold Coast have been identified in court.

Reece Adam, 43, and Khan Bo-Dene Ratima, 42, both face charges of money laundering and fraud.

It will be alleged the pair were involved in an investment fraud scheme - which detectives say targeted hundreds of people and ripped off about $3m - between August 31, 2018 and June 2, 2020.

The men and their three co-accused were charged in January following an investigation into an alleged cold call investment scheme based on the Gold Coast.

Police searched several business premises and residences across the city in May 2020, seizing a large quantity of documents and equipment suggesting the allegedly fraudulent business operated under several trading names.

Mr Ratima and Mr Adam were the last of the five alleged fraudsters to reach court, with co-accused Jennifer Curtis,  Antonia Secret Warea-Adams, and Cory Jay Brown all having their cases mentioned for the first time in the past several weeks.

Only Mr Ratima, of Broadbeach Waters, appeared in person at Southport Magistrates Court on Tuesday, where prosecutor Chris Freeman said it was a "complex" boiler room fraud case and that a brief of evidence would likely take months to compile.

His and Mr Adam's cases were adjourned to June 11, with both men to remain on bail.

Ms Curtis and Ms Waerea-Adams's cases are due to return to court on April 11, and Mr Brown's later this week. 

Named: Two women charged over alleged boiler room fraud

A 28-year-old woman has appeared in court on a single charge of fraud in relation to an alleged ‘boiler room’ operation.

Antonia Secret Waerea-Adams appeared at Southport Magistrates Courthouse on Friday March 1.

Police will allege the offence took place between 27 February 2019 and 2 June 2020 at an address in Ashmore.

The Upper Coomera woman was one of five people arrested and charged by the Financial and Cyber Crime Group, which in 2019 launched Operation Romeo Ecru to investigate allegations of cold call investment fraud that police say affected hundreds of people.

Antonia Secret Waerea-Adams has appeared in court charged with one count of fraud.

Antonia Secret Waerea-Adams pictured outside court in Southport. Picture: Mackenzie Colahan / ABC Gold Coast.

In May 2020 search warrants were executed at offices and homes across the Gold Coast where police said they seized a large quantity of documents and equipment indicating that the alleged scheme operated under trading names of ‘Starbrite Traders Pty Ltd’, ‘Digital Sky Systems’, ‘New Vison Products’ and ‘NPL’.

Police said that following a “protracted” investigation it will be alleged that approximately 300 people were affected by the alleged scheme between 2018 and 2020.

Detectives on the Gold Coast making an arrest in relation to an alleged 'boiler room' fraud operation. Picture: QPS.

Waerea-Adams was one of five people arrested by police in January this year in relation to the allegations.

Also arrested was 60-year-old Upper Coomera woman Jennifer Allen Curtis, who was charged with money laundering, fraud and personation in general – falsely represent.

Curtis did not appear at Southport Magistrates Courthouse when her matter was mentioned on Friday March 1.

Her matter was adjourned to April 11, while Waerea-Adams is expected to reappear on March 14.

Detectives making an arrest in the case. Picture: QPS

The other three people arrested are expected to appear at court later this month.

A 43-year-old Paradise Point man has been charged with one count of fraud and is expected to appear at Southport Magistrates Court on March 5.

A 43-year-old Miami man has been charged with one count each of money laundering and fraud and is expected to appear at Southport Magistrate Court on March 19.

A 42-year-old Broadbeach Waters man has been charged with one count each of money laundering and fraud and is expected to appear at Southport Magistrates Court on March 19.

Antonia Secret Waerea-Adams has appeared in court charged with one count of fraud.

Antonia Secret Waerea-Adams has appeared in court charged with one count of fraud.

Detective Inspector Kerry Lofdahl from the Financial Crime Unit encouraged people to do due diligence when parting with their hard-earned money for potential investments.

“No reputable investment firm will cold-call you, or randomly contact you through online messaging platforms or social media to invest in their product,” Detective Inspector Lofdahl said.

“If you cannot explain to another person exactly how your investment works, you should engage the services of a registered financial planner.”

Members of the public can check if their financial adviser is registered by visiting https://moneysmart.gov.au/financial-advice/financial-advisers-register

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