Former businessman accused of $1.8m fraud
A FORMER Gold Coast businessman has been charged with fraud following an investigation by the corporate regulator.
Anthony Keith Silver, also known as Tony Silver, faces five counts of fraud with a value of $1.8 million.
The Australian Securities and Investments Commission will allege Mr Silver dishonestly caused detriment to investors by using investment funds for purposes other than what had been anticipated back in 2009 and 2010.
The charges were heard briefly in the Southport Magistrates Court this morning where it was described as a "complex fraud matter".
The court heard there was a "significant amount of documents" in the brief of evidence.
"It's going to be a complex fraud matter, it's likely to go to trial, it's likely senior counsel will be involved at some point," Mr Silver's solicitor said.
Mr Silver was released on conditional bail and the matter will next be heard on February 17.