A 24-year-old man charged over an alleged Ponzi scheme scam has been slapped with a further 11 fraud charges.
Mandurah man Jack Endersby made headlines in March after this masthead exclusively exposed him as the director of a company through which he allegedly scammed clients out of millions of dollars.
Jack Endersby is facing 22 counts of fraud. Pictured with his grandmother Lyn Newby.
Those clients allegedly included his own grandmother.
An investigation by this masthead revealed Endersby drove around in a Maserati, made regular trips to Dubai and New York, and lived a lavish lifestyle in an apartment overlooking Elizabeth Quay while his clients raised concerns over their investments.
Those same clients took their concerns to police and Endersby was arrested and charged with 11 counts of fraud. Now, further police investigations into Endersby’s business dealings have led to him being charged with another 11 counts of gains benefit by fraud.
Police now allege Endersby’s offending dates back to 2019.
Jack Endersby, right, has been arrested for fraud.
Four of his alleged victims are over 60 years old.
“It will be alleged the accused entered into several contracts with varying victims under the guise that he would perform trades on the Global Stock Exchange with their invested capital,” a police spokesperson said.
“The victims were led to believe the investments were secure with anticipated returns of about 3 per cent per month. Conditions were also provided that investment accounts could be terminated at any time, with the closing account balance deposited back to the investor within 5-10 days.
“The victims never received any funds from their investment and subsequently reported their concerns to police via ReportCyber.”
Police now allege Endersby received more than $2.5 million in funds from 22 victims across Australia.
Endersby is due in court on Tuesday for a civil matter, with a real estate agent alleging the 24-year-old owes thousands in unpaid rent and property damages.
He will be back before court on 22 counts of fraud on May 17.
Get the day’s breaking news, entertainment ideas and a long read to enjoy. Sign up to receive our Evening Edition newsletter.