Foster denied bail on fresh fraud charges

Ed Jackson

Serial conman Peter Foster admits to a "bad past" that not even God can change - but he insists he's a changed man.

However, his impassioned plea for freedom has fallen on deaf ears, with the 54-year-old denied bail in a Queensland court on fresh fraud allegations.

Foster faced Southport Magistrates Court on Friday after being arrested on the Gold Coast.

The court heard NSW police had issued a warrant for Foster on seven charges of fraud relating to his alleged involvement in a sports betting scam in 2013.

Foster is accused of fraud totalling more than $1.5 million.

The court heard one of Foster's alleged victims had invested heavily with Sports Trading Club before discovering Foster's assumed identity of Mark Hughes was false.

Foster launched an impassioned plea to magistrate Rod Kilner to grant him bail and excuse his extensive history of frauds and scams.

"My past is bad I admit, but even God can't change the sins of the past," Foster said from the dock.

"I'm not the person I was 20 years ago or 10 years ago."

Foster said the Queensland Police Service's belief in his reformed character was shown by a detective issuing him with a notice to appear in court later this month on a separate matter rather than arresting him.

He also said he had "risked his life" to give evidence to police against accused murderer John Chardon, claiming he'd be in danger if he was kept in custody.

Mr Kilner denied bail and remanded Foster in custody, determining he was an unacceptable risk of failing to appear given his history.

"Given the histories I have before me it would be wrong of me to release Mr Foster on his own accord at this time," Mr Kilner said.

The court heard police allegations Foster had posed as Mark Hughes over several months in 2013 in an attempt to extract money from a South African man living in Western Australia.

After the man initially invested in Sports Trading Club, police say Foster and an accomplice then attempted to convince the man to buy the business's South African licence for $1 million.

Police prosecutor Jack Mulherin told the court Sports Trading Club had received a total of $28 million in investments since its establishment, the majority of which had been re-invested overseas.

Police claim Foster was planning to flee overseas and use the money to continue the alleged fraud outside Australia.

Foster denied the flight allegations, saying he was tied to the Gold Coast community where he was caring for his 85-year-old mother and if he'd wanted to run he had ample opportunity to do so before Friday's arrest.

"I could be anywhere," he said.

"I'm not going to run away from my family ... I'm not going to be an orphan."

Foster's lawyer Terry Fisher told reporters his client had indicated he will defend the charges.

Foster will face a local court in Sydney on Monday.