Media Release

8 November 2012

SFO charges laid against property investor

The Serious Fraud Office (SFO) has laid charges today against Glenn William Cooper (39) following their second investigation into the property investor.

Mr Cooper has been charged with six charges of dishonestly using a document.

The SFO investigation focussed on six property transactions over the period 2 November 2010 to 25 September 2011. The quantum of the offending is approximately $834,700.

The SFO allege that Mr Cooper purchased properties at mortgagee sale (using one of the companies he was involved in, or via associates) and then on sold these properties at an increased price. Investigators believe that he usually targeted investors who were under pressure to consolidate debt. All of the transactions that are the subject of the charges involve members of one family.

The SFO further alleges that false Sale & Purchase Agreements (concealing his interest in the properties from the banks and investors) and misleading Loan Application Forms were prepared by Mr Cooper and submitted to the banks.

Acting Chief Executive for the SFO, Simon McArley explains the importance of the charges, “While the quantum is relatively low, the conduct has had a serious effect on the community. The SFO believe there is strong public interest in focussing its resources on vulnerable investors.”

ENDS

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