The victims in NSW, Victoria, Queensland and Western Australia were estimated to have lost more than $2.5 million between February 2022 and February 2024, WA Police said.
A sophisticated property laundering syndicate behind the alleged criminal operation took money from victims under the guise of investment opportunities in shares and treasury bonds.
"In each instance, the victims received invoices and payment instructions directing them to make payments into bank accounts controlled by one of the accused persons," a spokeswoman said on Friday.
"The illicit funds were then transferred into various cryptocurrency wallets."
The syndicate is also accused of taking payments for the purchase of shipping containers through several online companies.
"After making payment, the victims did not receive delivery of a shipping container and were unable to contact the company," the spokeswoman said.
More than $1.3 million was laundered in WA as a result of the alleged scam and fraud.Â
Detectives estimate the total amount of money lost by victims Australia-wide is close to double that.
Three men aged 42, 31 and 30 and a woman, 44, have been charged with 192 offences including property laundering and possession of stolen or unlawfully obtained property.
They are due to face Perth Magistrates Court in the coming weeks.
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