Investigators in Australia have broken up a fraud ring that cost investors more than $1 billion.

Ken Gamble, a New South Wales based cybercrime investigator and IFW's global chairman, launched a global investigation to crack down on the elaborate boiler room scam. The scam uses high-pressure sales tactics through call centers to convince investors to buy fake shares of a company.

Gamble said the investigation, which took more than three years to identify the syndicate, had led to 80 arrests, including the operation's leading figures.

By following the money chain, they found that the money was transferred to Thailand and Singapore.

From Thailand, the funds were converted into cash and shipped to Malaysia.

"We knew for a long time who they (the gangs) were, but we couldn't determine where their offices were. It takes a lot of work." "Gamble said. 

People in the industry even told him not to try to crack online hoaxes because it would put "his own life at risk."

But Gamble persevered, and three years after he began his investigation, his team has made multiple breakthroughs.

He flew to Malaysia, met with the country's anti-Corruption commission, and eventually arrested and destroyed the syndicate

Now, Gamble hopes Australians who have been scammed out of hundreds of thousands of dollars will get some of their money back.

"More than $4.3 million was confiscated during the operation and 54 bank accounts were frozen, so there is a high probability that the funds will be recovered," he said.

"If there is an opportunity to get the money back, it would be the greatest opportunity we have ever had because of the amount of law enforcement involved in this operation."

Gamble said the investigation is ongoing.