Man extradited from Queensland over alleged $24m fraud

·1-min read

A Sydney businessman who is accused of perpetrating a $24 million fraud remains behind bars after being extradited from Queensland to appear in a NSW court.

NSW Detective Chief Inspector Paul Albury said Vincenzo Joseph Vocisano misappropriated his clients' investments, targeting "mum and dad-type" investors as well as other business owners.

"We encourage anyone who believes they have been the victim of a crime such as this to contact police," he said in a statement on Wednesday.

NSW detectives established Strike Force Wooroonga after receiving a report in July a western Sydney businessman had misappropriated his clients' funds.

Queensland police arrested the 40-year-old on Hope Island on Monday and he appeared in Southport Watchhouse on Tuesday, where NSW detectives successfully applied for his extradition.

Vocisano appeared in Tweed Heads Local Court on Wednesday, charged with dishonestly obtaining a financial advantage by deception.

He made no bail application and will reappear on Thursday.