Queensland police are extraditing a New Zealand man wanted over an alleged million dollar boiler-room scam.

Sunshine Coast detectives are in Christchurch to extradite the 48-year-old man, who is expected to face Maroochydore Magistrates Court on Friday on 21 counts of fraud.

Police allege the boiler-room type scam fleeced $1.2 million from 21 victims across Australia.

The alleged fraudulent business was set up under the trading name of Freedom Connect and later changed to Leading Edge Strategic Group. It continued operating until September 2015.

Police say the proceeds were used to fund a lavish Gold Coast lifestyle involving the leasing of luxury properties, purchasing vehicles and overseas holidays.

A boiler-room scam sees someone seel speculative or fradulent investments over the phone

- AAP