Gold Coast man has appeared in court accused of conning businesses into buying advertisements in phantom magazines.
Patrick Joseph O'Keeffe, 64, was remanded in custody in the Southport Magistrates Court on Wednesday on five charges of fraud.
His alleged scam involved call centre staff phoning Australian businesses and talking them into buying ads in non-existent magazines and periodicals.
Police say the call centre was staffed by 12 and further arrests are likely.
Businesses all over Australia may have fallen victim to the two-year racket, which was busted when officers raided a Southport property and discovered the operation.
"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," Detective Inspector Scott Knowles said.
O'Keeffe's bail hearing was adjourned until Thursday.
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