Peter Foster, the convicted conman and former confidant of Cherie Blair, has been denied bail after facing a Queensland court charged with fraud in excess of $2m through an alleged sports-betting scam.
Foster, 54, was arrested by police on the Gold Coast on Friday and appeared in the Southport magistrates court on seven charges of fraud.
The court heard Foster was facing seven charges of fraud from New South Wales police over his alleged involvement with a company called Sports Trading Club.
Police allege Foster, posing under the alias Mark Hughes, persuaded a South African-born man living in Western Australia to invest more than $1.5m in the club over several months in 2013.
It is alleged the man then discovered Foster’s real identity and contacted the police.
Police say $28m was invested in Sports Trading Club, with most of the money moved overseas.
The court heard police feared Foster was preparing to move overseas and use the funds to continue the alleged fraud.
Foster will be extradited to New South Wales over the weekend and will face court in Sydney on Monday.
