Qld man arrested over $1m fraud

A Brisbane man allegedly worked with bikies to pull off a $1 million fraud that involved cloning an investment company's website and impersonating its directors.

The sophisticated scam was one of two fraudulent operations uncovered by a police operation that's seen $270,000 frozen and several items seized, including a custom motorcycle.

Together, the scams fleeced more than $2 million, police say.

A 33-year-old Brisbane man, believed to be an associate of the Bandidos and Black Uhlans, will face fraud, money laundering and personation charges in the Brisbane Magistrates Court on Friday.

It's alleged he leveraged off legitimate Western Australian investment company M6 Treasury by copying its website and taking on the persona of a director.

Police said unsuspecting investors around Queensland were targeted, with one fleeced of $600,000.

"These crimes have affected every day people, some have lost their life savings," anti-bikie taskforce Detective Superintendent Mick Niland said.

"And at the heart of it, behind it, are a number of members of criminal motorcycle gangs."

Police are also investigating whether the second fraudulent operation, which involves online betting software, has bikie links.

Officers on Thursday raided five homes in Brisbane and the Gold Coast as part of their investigations into the two scams.

They seized a custom Harley Davidson motorcycle, jewellery, mobile phones, documents, computers and clothing.

Police say they're still searching for a Bandido and a Black Uhlan believed to be involved.