Campbell Newman's brother-in-law charged over $5 million fraud

The brother-in-law of former Queensland premier Campbell Newman has been charged with fraud after allegedly accepting $5 million from an overseas lender for investments that did not exist.

Seb Monsour was arrested today after a raid on a business in Brisbane's Spring Hill where police seized documents, financial records and electronic evidence.

Mr Monsour allegedly accepted three payments totalling $5 million from an overseas investor, on the pretence they would be used for three separate investments.

But police say those investments did not exist and the man had no authority, license or credential to manage investments on behalf of companies.

Detective Senior Constable Doug Henderson said three payments had been made to the business's accounts, but it was unclear where the funds had then gone.

"It's currently under investigation where the money has gone, but yeah, it's gone," he said.

Mr Monsour has been remanded in custody and is expected to apply for bail in the Brisbane Magistrates Court tomorrow.