The company allegedly involved continues to trade openly, despite fraud charges and a series of civil complaints.

Charterhurst Agencies sells sports-betting software, but customers complained it didn’t work and that managed accounts weren’t created. The revelations came as police and corporate and consumer watchdogs faced criticism for being late to act on investment scams that have fleeced thousands of people.

A Courier-Mail probe found a dozen Gold Coast syndicates under investigation, charged or convicted are alleged to have raked in about $150 million.

Barrister Michael Byrne’s Queensland Organised Crime Commission of Inquiry last year heard evidence the Gold Coast was the “epicentre” of so-called boiler-room scams in Australia.

The scams usually involve call centre staff making cold calls and using high-pressure techniques to promote investments.

Victims are typically encouraged to continue putting money into schemes for greater rewards, but they ultimately find they have been misled and their money has vanished.

Bikies, former police, serial conmen and organised crime figures are alleged to be involved in the scams.

In October, police charged Jack Doumani, 54, and his son John, 23, with fraud offences over alleged activities at Charterhurst Agencies and a range of other companies, all based at 128 Bundall Rd on the Gold Coast. The Doumanis have denied the allegations.

But it can also be revealed that a series of Charterhurst customers have made complaints to the Queensland Civil and Administrative Tribunal, which deals with minor civil disputes up to $25,000.

One case involved a Brisbane father whose speech is heavily slurred following a serious brain injury.

In his QCAT documents he told how a telemarketer cold-called him in July 2014 selling betting software delivered installed on a computer. Over about five weeks he paid Charterhurst $210,000 but had been unable to get the money back, he says.

His marriage had broken down and he had suffered “severe ongoing mental and emotional distress”. In his case and two others, QCAT ordered Charterhurst to make payments to the customers.

In another QCAT case, South Australian resident Ray Reid wrote that Charterhurst sold him $12,000 in sports-betting software “which never worked properly”.

“Jordan ‘no last name’ began ringing me asking for an additional $38,000 so he could set up a managed fund,” Mr Reid wrote.

“I declined and he became quite annoyed.”

Mr Reid says he was initially cold-called while caring for his terminally ill wife and wanted to raise money to help pay for her impending funeral.

The case was adjourned.