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Aussie Tech Exec Charged Over Million-Dollar Scam

A Queensland man who set up allegedly fraudulent IT companies has been charged by police after an investigation into a multinational ransomware scam.

Police detectives from the Mackay Criminal Investigation Branch allege that the 75-year-old Queensland man – unnamed at this stage – set up three Australian bogus companies, JC Enterprising, JC Web Creations and ITZ Services, between February 2015 and July 2017.

The companies were allegedly founded after the man was contacted by a fake overseas computer repair company to become its local representative to receive funds from its customers.

According to police, victims were subjected to cold-calling scams, with callers telling potential victims that their computers needed repairs, with many providing remote access to the scammers, who then downloaded ransomware.

It is alleged that the man transferred funds in excess of $1 million to a number of overseas entities between 2010 and 2017.

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