Alleged fraudster Luke David Bracken.
Alleged fraudster Luke David Bracken. Brett Wortman

'We trusted him with $260k': Accused Coast conman in court

POLICE have confirmed investigations are continuing into the affairs of alleged fraudster Luke David Bracken, who alleged victims claim conned them out of hundreds of thousands of dollars.

Bracken, of Mooloolaba, was deported from South Africa last year after being imprisoned on charges of attempting to solicit sums of $US12,000 and 20,000 pound sterling.

It was alleged he told several South African business people the money would be used to fly to Brussels to secure the release of $US500 million which would be used to fund their business ventures.

News of his South African arrest saw several Sunshine Coast-based alleged victims reveal they had lost hundreds of thousands of dollars given to Mr Bracken on the promise of significant short-term windfall returns.

Sunshine Coast Detective Senior Sergeant Daren Edwards said investigations were continuing into complaints raised, with officers currently examining bank records.

Bracken is due to front the Sydney Supreme Court on March 3 in relation to a civil matter involving Industry Funds Management (Nominees 2) Pty Ltd, an entity associated with the ME Bank, which has been contacted for comment.

The owner of Bracken International Mining moved to the Sunshine Coast in the late 1980s, later managing Broken Head quarry in northern NSW.

Four alleged Caloundra victims say they lost $260,000 between them after being convinced by Bracken to invest in his mining ventures.

Sonia Fry told the Sunshine Coast Daily last year Bracken had allegedly approached her seeking $90,000 to cover insurance so $40 million he was owed could be released.

"I was told that in six weeks he would double the money," Ms Fry said. "I gave him $35,000."

She said she later discovered her friends had also given Bracken amounts of $25,000, $50,000 and $150,000.

Ms Fry alleged she was given shares, which she said proved to be fraudulent documents.

"There is no way anyone is getting their money back," she said.

"But where did the money go?

"It's three years now for us. We fought hard, went through a debt collector and a private investigator and went to ASIC and the police."

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