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AAP
AAP
National
Nick Gibbs

Jail for promoter promising high returns to pensioners

Investors were told their money would be used to develop properties or pooled in bank term deposits. (David Gray/AAP PHOTOS) (AAP)

The Gold Coast promoter of a so-called investment scheme involving cold-calling victims with the promise of returns up to 20 per cent has been jailed.

Anthony "Tony" Silver was sentenced to eight-and-a-half years in prison after an Australian Securities and Investments Commission investigation helped uncover fraud totalling more than $1.8 million.

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