A Gold Coast man has been charged over a two-year scam to con businesses into buying ad space in phantom magazines.
The scam used a call centre, staffed by up to 12 people, to cold call businesses and talk them into buying ads in non-existent magazines and periodicals.
A 64-year-old man is facing five counts of fraud, but police say further arrests are likely and businesses all over Australia may have fallen victim to the racket.
The scam was busted when police raided a Southport property, and discovered the call centre operation.
Detective Inspector Scott Knowles said a range of businesses and publication names were used to dupe customers.
"The amount of material we have removed from the premises is significant, and it will take us some time to sort through it and contact potential victims," he said on Wednesday.
"But we believe we will be able to identify those affected through the records we have seized."
The 64-year-old will front the Southport Magistrates Court on Wednesday morning.
