A Queensland law firm director has been linked to a multimillion dollar boiler room investment scam.
A Gold Coast law firm director has been linked to an alleged multimillion-dollar cold-call investment scam.
‘Boiler-room’ operations fleecing retirees and other investors of their life savings in separate syndicates were raided by fraud squad detectives last month. Non-practicing director and part owner of a Bundall law firm, Mrunal Parekh, is thought to be somehow linked to the operation though he denied any involvement last week.
According to a report by the Courier Mail, a private investigator investigating the operation on behalf of a NSW farmer who lost $750,000, told police that he had observed the brother of singer and model Sophie Monk in surveillance during his investigation. Ben Monk is alleged to have worked as a telemarketing salesman but has not been charged.
“He’s one of the main closers, the salesperson that closes the deals with the customer,” private investigator Ken Gamble said.
The syndicate has been linked to Parekh and Sami Imad Mikhail, who are listed as owners and directors of Lure Sun Group, which owns companies under police investigation, Australian Emirates Media, and are majority owners of Hicare Financial Services, also under investigation.
Parekh’s firm is in the same building as a boiler room raided by police last month.
“I’m more than happy to co-operate and help you with your queries. But we have got a lawyer in place. So if you don’t mind passing on all the information via him,” Parekh said.
His lawyer, Mark Donnelly, said his client had no comment regarding the investigation.
This month, the ATO launched Supreme Court proceedings against Parekh’s wife, Richa Parekh, over more than $2.25m in unpaid tax, the Courier Mail reported.
“They are in discussions with the ATO and a mediation is in the process of being organised, or may have even been organised,” Donnelly said.
“They are using their accountant and are attempting to resolve it on an amicable basis.”
