A 29-year-old woman has been jailed two years and eight months by the District Court for conspiracy to defraud in a Loco-London Silver fraud case.

Police received complaints against three companies suspected to have perpetrated Loco-London Silver fraud between August 1998 and February 2000. The companies placed job advertisements locally for recruiting clerical staff and lured 51 jobseekers into a fictitious Loco-London Silver investment involving a loss of $13.5 million.

Officers arrested and charged 15 people with conspiracy to defraud. They were jailed for up to 32 months in January. In April officers arrested the 29-year-old defendant. She was charged and the sentence meted out upon conviction today.

Police remind the public to beware of jobs offered at unrealistically high remuneration or claims of quick profits. Jobseekers should also be wary if they are encouraged by their employers to invest their own money for the purpose of securing the job offered.