Stephen Thomas Helson: Gold Coast man sentenced in Southport District Court over alleged boiler room scheme

A “foot soldier” who earned a modest wage in an alleged boiler room scheme has been sentenced to a suspended jail term.

A “foot soldier” who earned a modest wage by “cleaning money” in an alleged boiler room scheme has been sentenced to a suspended jail term.

New Zealand citizen Stephen Thomas Helson, 58, who migrated to southeast Queensland in the 1990s, was involved in several cold call investment schemes on the Gold Coast.

The Southport District Court heard he played a “limited role” as a “dummy director” who signed documents and cleaned money by withdrawing it from ATM machines and banks between July 2014 and December 2015.

He wasn’t arrested until 2017.

“The schemes were profitable, they were sophisticated, they in essence duped people … to invest in programs that either didn’t work, didn't exist or contained other dishonesty to get people to hand over their money knowing they were never going to get it back,” Crown prosecutor Matthew Hynes said.

The alleged boiler room scheme defrauded about $1.9 million, the court heard. Other people allegedly involved are still before the courts.

MAN FACES COURT OVER ALLEGED BOILER ROOM SCHEME

Stephen Thomas Helson (right) pleaded guilty in Southport District Court to money laundering knowingly.

Helson received about $56,000 and was paid $1000 a week at the height of his involvement.

“He was knowingly involved in money laundering, as opposed to recklessly. That is he was aware of the fraud being perpetrated, he knew who the principal (alleged offenders) were,” Mr Hynes said.

OTHER NEWS

Tradies band together to help struggling Coast vet

Councillor: Don’t ‘set your hair on fire’

NRL, AFL scramble amid QLD’s new hard-line quarantine rule

On Monday Helson pleaded guilty to money laundering knowingly.

Defence barrister Russell Pearce said Helson was a “modestly paid foot soldier” and there was no lavish lifestyle.

Stephen Thomas Helson leaving Southport court.

“His criminality is certainly at the bottom of the totem pole. His failure … was that he allowed himself to be used,” he said.

Mr Pearce said Helson had a background in business, which had highs and lows, and ultimately brought him to Australia in 1996.

He said he was currently carer for an elderly lady who in exchange offers him cheaper board.

Judge Catherine Muir accepted Helson was remorseful.

“I accept that your involvement was not as serious as some of the others, and that you were, as your counsel described a ‘foot soldier’, but it cannot be overlooked that you allowed yourself to be used in this case and you were a willing and knowing participant,” she said.

Helson was sentenced to three years prison, wholly suspended for four.