April 5, 2011

THE RUSSIAN mafia is alleged to be ripping off millions of dollars from Victorian businesses and threatening to kill duped investors if they complain to the police.

It is believed several Victorian telecom companies have been conned out of more than $5 million.

Maverick investor Nicholas Bolton is among those to have lost millions of dollars.

Documents provided to police allege Mr Bolton was defrauded of $3.2 million.

Another alleged victim, telecom consultant Peter Boyle, yesterday told the Herald Sun "Russian heavies" threatened to kill him if he continued with his complaint to police.

"I have had a couple of phone calls from people with heavy accents saying if I pursue this with police then I'm dead," Mr Boyle said.

A police spokeswoman confirmed the force was investigating the alleged telecommunications fraud.

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