Newman’s brother-in-law facing $10m fraud charges
FUND manager and property developer Seb Monsour will now face fraud charges relating to $10 million.
Monsour, who is the brother-in-law of former Premier Campbell Newman, was hit with an additional charge of major and serious fraud.
Police originally charged him in June in relation to $5 million in investment fraud but have now doubled the amount.
Monsour, 44, of Enoggera, will appear in court on September on the new charge.
"Detectives from State Crime Command's Financial and Cyber Crime Group this morning issued the man with a notice to appear for a further $5 million investment fraud, bringing the total amount to date of this protracted investigation to $10 million," a statement from police said.
"Police will allege the man, the CEO of a real estate development company, accepted the payment of $5 million payment from a second overseas complainant to invest in three Australian investment funds as a part of the program.
"Police will further allege the money was not invested as promised and the man had no authority, appropriate licence or credentials to manage investments on behalf of the companies."