Seb Monsour is facing charges related to $10 million worth of alleged fraud. Picture: AAP Image/Dan Peled
Seb Monsour is facing charges related to $10 million worth of alleged fraud. Picture: AAP Image/Dan Peled

Newman brother-in-law breaches bail

THE brother-in-law of former premier Campbell Newman has been fined for breaching a bail condition.

Fund manager and property developer Seb Monsour is facing charges related to $10 million worth of alleged fraud.

Monsour today pleaded guilty to breaching a bail condition, by failing to report to police on Christmas Eve.

Lawyer Nick Dore told Brisbane Magistrates Court Monsour forgot to report to Ferny Grove police station that day, but reported on Boxing Day.

Mr Dore said Monsour usually reported once a week, on his way to work, but had not been working on Christmas Eve.

He was fined $300, with no conviction recorded.

Seb Monsour is facing charges related to $10 million worth of alleged fraud. Picture: AAP Image/Dan Peled
Seb Monsour is facing charges related to $10 million worth of alleged fraud. Picture: AAP Image/Dan Peled

Police originally charged Monsour, chief executive of Majella Group, in June last year in relation to five million dollars worth of investment fraud, but have since doubled the amount.

The first fraud charge alleges he accepted three significant payments from a Chinese entrepreneur, who sought to invest the money under a visa program for wealthy migrants.

Police allege the man was told his money would go into property and business funds, but these did not exist at the time.

It is alleged Monsour had no authority, appropriate licence or credentials to manage investments.

Monsour later appeared in September on a further five million dollar investment fraud charge.

The second charge alleged Monsour accepted payment of five million dollars from a second overseas complainant to invest in three Australian investment funds.

Monsours bail conditions also says he cannot approach an airport or leave the country.

Campbell Newman has had no business relationship with Monsour.