Further charges over alleged fraudulent investment scheme

Mandurah man Jack Alexander Endersby has been charged with another 11 counts of fraud, now accused of receiving $2.5 million in funds from victims across Australia and Europe.

It comes after detectives from the Financial Crimes Squad arrested the 24-year-old in March, following an investigation into the alleged fraudulent investment scheme now dating back to 2019.

He was initially charged with 11 counts of gains benefit by fraud, but police have today confirmed a further 11 charges have been laid.

Further investigations into his activities as the managing director of an investment firm revealed that four of the 11 additional victims were over the age of 60. 

Mr Endersby was the managing director of an investment firm, reportedly named Codex Investments.

“In total, it will be alleged the accused has received over $2.5 million in funds from 22 victims across Australia and Europe,” a Police spokesperson said.

He allegedly entered several contracts with varying victims under the guise he would perform trades on the Global Stock Exchange with their invested capital.

“The victims were led to believe the investments were secure with anticipated returns of about three percent per month,” Police said.

“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.”

Mr Endersby rented a lavish apartment in Elizabeth Quay and was known to drive multiple luxury vehicles, this masthead understands.

He is due to appear in the WA Magistrates Court for his criminal charges on May 18. He is also set to appear for a separate civil matter tomorrow.

Police said inquiries remain ongoing.